Business

Ayalas buy cold storage plant in Laguna

AyalaLand Logistics Holdings Corp. (ALLHC) Group acquired Technofreeze, a cold storage facility located in Laguna Technopark, for P408.8 million.

AyalaLand Logistics Holdings Corp. (ALLHC) Group acquired Technofreeze, a cold storage facility located in Laguna Technopark, for P408.8 million.

Under the deal, AALHC will also acquire the 11,800-sqm parcel of land on which Technofreeze’s facility stands.

Technofreeze has a proven track record of serving companies with diverse products such as processed meat products, dairy and ice cream, and adhesives. It is accredited by the Department of Agriculture to cater to products like fruits and vegetables and likewise, meat, fisheries and aquatic products.

The plant includes 17 cold storage rooms up to -25 °C with 4,000 pallet positions, three processing rooms with an adjustable temperature of 0 to 25 °C, four dry storage rooms with 1,600 pallet positions, two blast freezers with a combined capacity of 25 tonnes, and several office spaces.

AALHI said this facility would complement the group’s warehouse leasing business and accelerate its goal of being the leading real estate logistics and industrial parks developer and operator in the Philippines.

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