AYALA Group’s AC Logistics Holdings Corp. has announced plans to expand its cold storage facilities nationwide, aiming to support various sectors.
“We have over 7,000 islands, and moving between those islands is a challenge,” AC Logistics President and Chief Executive Officer Jose Rene D. Almendras told reporters last week, not disclosing specific figures and locations.
AC Logistics is considering both acquisition and construction for its cold storage expansion, with Mr. Almendras confirming full utilization of the current facility in Cagayan de Oro (CDO).
In June, AC Logistics, in partnership with Glacier Megafridge, Inc. (GMI), opened a cold storage facility in CDO through the joint venture GMAC Logitech Refrigeration Corp. (GMAC).
Mr. Almendras said the initiative aims to benefit farmers, reduce agricultural spoilage rates, and enhance the delivery of various products, including pharmaceutical items.
Ayala Corp. Chairman Jaime Augusto Zobel de Ayala, during the Management Association of the Philippines’ inaugural meeting, emphasized the conglomerate’s focus on developing the logistics side of the agriculture sector, saying, “We’re building cold storages. We’re building a network of linkages that will help products, commodities, and the like to move… efficiently.”
AC Logistics, a unit of Ayala Corp., serves as the group’s portfolio company for logistics solutions services, handling end-to-end supply chain solutions through its subsidiaries.
Ayala Corp.’s shares were last traded at P675 apiece on Jan. 19. — Revin Mikhael D. Ochave