MANILA, Philippines — AC Logistics Holdings Corp. (AC Logistics) and Glacier Megafridge Inc. (GMI) signed a joint venture agreement to construct and operate a cold storage facility in Cagayan de Oro, as part of efforts to bring facilities to different regions in the country.
Ayala Corp. president and CEO Fernando Zobel de Ayala said the partnership with GMI would contribute to the country’s efforts in attaining food security.
“Food safety and security are top concerns for many Filipinos, while limited market access and low incomes have kept generations of food producers struggling. I am delighted at the prospect of the Ayala group having a direct positive impact on our country’s food security through this partnership with GMI,” he said.
“This aligns perfectly with our group’s sustainability thrusts and with the UN’s sustainable development goals,” he said.
GMI is one of the largest cold chain storage and logistical services provider in the Philippines.
At present, the company provides integrated cold chain operations, including cold storage warehousing, blast freezing, inventory management, transport management, distribution, and logistics.
Arturo Yan, GMI president and CEO, said the partnership envisions a closed loop corridor that preserves and prolongs shelf life of both local and imported meat and poultry, fish catch, and farm produce from traders.
“This facility that we shall soon be operating in Cagayan de Oro dovetails with our objectives of bringing facilities closer to key sources of food, providing a prospect of better incomes for farmers and fishermen, and providing safe, secure, and sufficient products at stable prices to consumers,” Yan said.
At present, there is a shortage in capacity to meet the growth in the country’s cold storage needs for food production and consumption.
“The current need to keep and preserve temperature-sensitive vaccines and other healthcare products in cold storage facilities exacerbates the shortfall,” Yan said.
“Cold storage and delivery capabilities in the AC Logistics group will open synergies with our various operating companies. It will enable us to better serve our country’s growing need for logistical cold chain service delivery in present and emerging industries and business ecosystems,” said AC Logistics president Rene Almendras.
GMI’s facility is strategically situated to service the needs of various local and multinational companies in Northern Mindanao.
The facility is expected to commence operations in the latter part of 2022 and is envisioned to be an integral part of the supply chain of several companies and a key facility to support the region’s development, Ayala said.
GMI is one of the largest cold chain storage and logistical services provider in the Philippines. It provides integrated operations, including cold storage warehousing, blast freezing, inventory management, transport management, distribution, and logistics.