FLS and Rattanakorn sign Joint Venture Agreement to accelerate their growth in Warehousing and Contract Logistics Services

BANGKOK,Oct. 21,2021 --Rattanakorn Asset and FLS recently signed a Joint Venture agreement to form FLS Supply Chain Centers,to design,build and operate specialized warehouse complexes across Thailand.

From Left to Right: Jittima Ruangratanakorn (MD Design,Rattanakorn) Jugkarut Ruangratanakorn (MD,Rattanakorn Group),Torbjoern Larisch (MD,FLS Group),Lieven Vander Elstraeten (GM,FLS Warehousing).

The first such project will be developed in Maptaphut,Rayong and involves in its first phase a 10,000 sqm state-of-the-art warehouse for the storage and handling of hazardous chemicals.

The facility will also include a chemical processing and repackaging facility. The JV plans to complete construction of the first phase in May 2022.

Torbjörn Larisch,Group Managing Director FLS: 'Today marks another milestone in the growth of the FLS Group. As we further diversify our activities into logistics and warehousing this is the first time FLS is investing into assets on such a scale. Rattanakorn Asset is the perfect partner for us with their long track record of investing into a wide range of projects on the Eastern Seaboard. We firmly believe in the growth potential of Thailand at the center of ASEAN and the projected fast development of the Easter Economic Corridor (EEC).'

In a second phase,additional warehouses will be constructed as well as a well-equipped container yard for dry cargo containers and ISO-tanks to support the growing demand for specialist chemical logistics services.

The two companies have also reached an in principal agreement to further expand into the Bangkok Metropolitan and Eastern Seaboard area to build and operate warehouses supporting the food,consumer and automotive industries.

About FLS:

FLS,headquartered in Laem Chabang,Thailand,has since its foundation in 1993 grown in a recognized leading regional end to end logistics service provider offering tailor-made project logistics and heavy lift transportation solutions,contract logistics (warehousing,domestic and cross border trucking,repackaging and processing activities),customs clearance,documentation and freight forwarding services.

FLS is currently present in Thailand,Vietnam,Myanmar,Australia,Singapore,Indonesia,USA,Taiwan and Malaysia and is close to the Asian key markets. FLS serves its multinational customers active in the automotive,chemicals,energy,food,industrial manufacturing,medical devices and offshore industries.

About Rattanakorn:

Rattanakorn Asset Group,headquartered in Pattaya,has grown since its foundation 20 years ago into a real estate powerhouse with over THB 33 billion of assets under management in mainly Pattaya,Chonburi,Rayong and other parts of Thailand. Its activities include residential housing & condominium projects,commercial and community mall management and development,hotel & resort development in cooperation with some of the world's leading hotel brands—IHG®,ONYX Hospitality Group,Yoo Worldwide and Ascott Limited. The company also develops co-working space & offices,education centers,self-storage solutions and is active in the F&B and fitness industry. The group has a leading position in the manufacturing and sales of organic mineral fertilizers. Its exponential growth has been supported by its inhouse design,engineering,construction and prefabrication business in combination with its landbank of over 5 million square meters.