AyalaLand Logistics acquires cold storage facility Technofreeze

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AYALALAND Logistics Holdings, Corp. has acquired Technofreeze, Inc., a cold storage facility located in Laguna Technopark, the listed holding firm disclosed to the stock exchange on Wednesday.

“Technofreeze is an established cold storage facility in Laguna with [a] proven track record of serving companies with diverse products such as processed meat products, dairy and ice cream, and adhesives,” the company said.

The firm will also acquire the land on which the facility stands, which spans 11,800 square meters. The acquisitions will amount to a total of P408.8 million, inclusive of value-added tax.

The cold chain facility is accredited by the Department of Agriculture, allowing it to store fruits, vegetables, meat, fisheries, and aquatic products.

The facility has 17 cold storage rooms capable of keeping temperatures up to -25 degrees Celsius with 4,000 pallet positions and three processing rooms with temperatures ranging from 0 to 25 degrees Celsius.

It also has four dry storage rooms with 1,600 pallet positions, two blast freezers with a combined 25-ton capacity, and several office spaces.

The facility will be operated under AyalaLand Logistics’ cold storage brand ALogis Artico, which is also based in the listed holding firm’s Laguna Technopark.

“This cold facility will complement the warehouse leasing business of the group,” AyalaLand Logistics said.

AyalaLand Logistics, a subsidiary of Ayala Land, Inc., specializes in logistics and warehouse business.

It said the transaction supports the company’s vision “to be the leading real estate logistics and industrial parks developer and operator in the Philippines.”

Shares of AyalaLand Logistics at the stock exchange went up by 8.22% or P0.25 on Wednesday to close at P3.29 apiece. — Keren Concepcion G. Valmonte

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