Singapore's Pteris wins contracts for cargo handling in China

Singapore-listed airport logistics company Pteris said it has won a contract for supplying cargo handling equipment at one of China Eastern Airlines' cargo terminals as well as a portion of SF Express' sorting system.

Pteris, now 51 per cent controlled by mainland transportation equipment maker China International Marine Containers (CIMC) after an initial acquisition in 2013, said in a press release that its subsidiary, Shenzhen CIMC-TianDa Airport Support Company, was awarded a contract worth 71 million yuan (HK$90 million) by China Eastern's logistics subsidiary, Eastern Air Logistics (EAL).

The contract is for the supply and installation of cargo handling system equipment at EAL's west cargo area at Shanghai Pudong International Airport. According to EAL, the west cargo area, one of EAL's six cargo terminals in Shanghai's two airports, is the newest and second largest, with designed capacity to handle 1,500 thousand tonnes of cargo a year. Pteris said the project is expected to be completed by the end of 2016.

SF Express, the mainland's dominant express courier, has also entered a strategic framework agreement with Pteris's mainland subsidiary Pteris Global (Suzhou).

Pteris said that since February, it has been awarded six contracts for the delivery of sort systems for SF Express located in Shanghai, Hangzhou, Tangshan and other eastern regions of China. The total contract is valued at approximately 95 million yuan and is expected to be completed by 2015, said Pteris. Details of the scope of the strategic framework agreement were not immediately available.