South Korean 3PL LX Pantos said yesterday it had teamed with state-backed maritime financial institution Korea Ocean Business Corp to acquire a newly built logistics centre in Dalton, in the US state of Georgia, for $120m.
The facility, built by US real estate developer Dossche Holdings, has a 304,769 sq metre area (equivalent to 43 football fields).
Amid near-shoring in the US, LX Pantos wants to tap into the rising number of battery-makers and manufacturers in Georgia, as the state grows as a logistics hub, with Savannah Port, Hartsfield-Jackson Atlanta International Airport and Appalachian railroads.
The facility is also targeting South Korean companies expanding in the US, such as LG Electronics and Hanwha Q Cells. It is estimated that about 140 such firms now have a presence in Georgia, and the move is part of the South Korean government’s Global Strategic Logistics Hub Plan to develop global hubs to help the country’s 3PLs gain a foothold in major overseas manufacturing markets.
LX Pantos said the Dalton facility would enable nationwide deliveries within one to two days, as road and rail networks in the area are seamlessly integrated.
The firm’s Lee Yong-ho said: “The acquisition of this mega-sized logistics facility represents a milestone in the expansion of LX Pantos across North America. By securing self-operated logistics assets, we will reinforce our end-to-end supply chain solutions, enhance operational resilience, and expand our client portfolio across key industrial sectors, such as automotive, battery, and solar energy. Through differentiated logistics services, we aim to further strengthen our position in the US market.”
Last month, the 3PL launched Boxlinks, a joint-venture with Japanese conglomorate ONE, the sixth largest liner operator, entering the US intermodal transport sector.