Mitsubishi Logisnext Asia Pacific partners xSQUARE to take intelligent warehousing solutions to the Asia Pacific market

This pivotal partnership will uplift the growing demand for intelligent warehousing solutions amidst the Industry 4.0 revolution

SINGAPORE,Sept. 26,2022 -- Mitsubishi Logisnext Asia Pacific Pte. Ltd. (MLAP),a group company of Mitsubishi Logisnext (ML),one of the world's largest material handling equipment companies,and xSQUARE,a Singapore-based intelligent warehousing solutions company,have entered into a partnership to meet the growing demand for intelligent warehousing solutions amid the fourth industrial revolution.

This move is reflective of the increasing demand for warehouse automation. According to Acumen Research and Consulting,the global warehouse automation market will reach USD 64 billion by 2030,with a CAGR of 14.8% from 2022 to 2030. Globally,warehouse operators are turning to newly developed material handling and automation technologies to solve their productivity challenges in the face of intensifying competition.

MLAP and xSQUARE will collaborate to provide businesses with a solution to overcome labor shortages while increasing warehouse productivity and operational efficiency by:

(i) developing a new line of Automated Guided Vehicle (AGV) based on Logisnext's brands of forklifts,and

(ii) distributing xSQUARE's intelligent warehousing solutions through MLAP's distribution network in Asia,Oceania,and South Africa.

The solution is implementable across all types of warehouses,factories,and dynamic environments,supporting daily operations in a seamless manner and making safety an integral part of the logistics value chain.

xSQUARE's intelligent warehousing solutions enable warehouse operators to overcome automation fragmentation and achieve full interoperability – all while dealing with high volumes of goods movement.

Yasuo Kubota,Managing Director of Mitsubishi Logisnext Asia Pacific,said,"We believe that our partnership with xSQUARE will help strengthen our ability to expand the product and service offerings in the material handling equipment industry. This collaboration will also enable us to be a complete solutions provider in this domain. We're excited to work with xSQUARE to bring new cutting-edge solutions to the market so that our customers can manage high order volumes in a seamless manner while reaching their sustainability goals.".

"Our intelligent warehousing solutions have been specifically designed to deliver benefits that impact not just companies in the industry but also their customers and the environment. The numerous successful deployments in Singapore with multinational corporations and small and medium-sized enterprises (SMEs in the pharmaceutical,furniture manufacturing,chemical logistics,third-party logistics,and vertical farming industries) have paved the way for our global expansion," said Jens Bohnwagner,CEO of xSQUARE. "Our shared vision with MLAP is to become market leaders that will push the boundaries of innovation and transform the warehouse automation industry with solutions powered by intelligent systems and pioneering technology."

Going forward,the two companies intend to roll out the solution in the Asia Pacific market according to the partnership agreement.

About Mitsubishi Logisnext Asia Pacific

Mitsubishi Logisnext Asia Pacific Pte. Ltd. (MLAP) headquartered in Singapore offers technology driven material handling equipment and automated solution across Asia,and South Africa. MLAP is part of the global Mitsubishi Logisnext (ML) based in Kyoto,Japan. With 12,000 employees and total sales of 465,406 million JPY (as of March 2022),ML is the world's fourth-largest industrial truck manufacturer. ML is,in turn,a company group of Mitsubishi Heavy Industries (MHI).

Being part of a global group of companies,MLAP thinks globally and acts locally to bring customers the benefits of our international-scale business. Through our extensive subsidiaries and independent dealer network,MLAP have helped customers Move The World Forward for more than 100 years. Our complete range includes forklifts,warehouse trucks,automated solution,Internet of Things IOT and service packages are spans across 5 leading brands - Mitsubishi Forklift Trucks,Cat® Lift Trucks,UniCarriers® Forklift,Nichiyu Electric Forklifts and TCM Forklift.

About xSQUARE

Backed by Goldbell's 40 years of experience in material handling equipment,XiaoXin Machines Pte Ltd ("xSQUARE") is on track to become the leader in intelligent warehousing in the Asia Pacific with its suite of proprietary Autonomous Mobile Robots (forklifts) and the best-in-class interoperable Warehouse Control and Optimisation System.

xSQUARE's clientele transcends industries covering pharmaceutical,beverage producers,3PL,vertical farming and more.

For more information,please visit www.xSQUARE.sg.