Kerry Logistics Network and Hengan Group Form Joint Venture To Enhance Synergistic Competitiveness in Healthcare Products Market
HONG KONG SAR - Media OutReach - 20 October 2021 - Kerry Logistics Network Limited ('Kerry Logistics Network' or 'KLN'; Stock Code 0636.HK) and Hengan International Group Company Limited ('Hengan Group'; Stock Code 1044.HK), the leading producer of hygiene consumables in China, have set up a joint venture company to create synergy in the business-to-business ('B2B') bulk distribution and wholesale market of medical, healthcare and hygiene products. By combining KLN's strengths in domestic logistics and distribution and Hengan Group's industry-leading sourcing power and comprehensive portfolio in hygiene products, the joint venture company will have unique competitiveness in meeting the new demands of medical institutions and public facilities. The joint venture company was established to explore a closer collaboration and provide innovative solutions to customers in both the public and private medical and healthcare sectors. While it is looking to expand its business into other Asian countries and territories going forward, the joint venture will also have full support of the "Banitore" brand of products, which are owned by Hengan Group, in the Hong Kong market. William Ma, Group Managing Director of KLN, said, "We are pleased that KLN is joining forces with Hengan Group, a leader in hygiene consumables in the China market. This joint venture will not only enable the two companies to explore more growth opportunities in the medical, healthcare and hygiene products market, but also create a unique competitive edge for us to support our customers in meeting new challenges through the pandemic." Tommy Hui, Executive Director of Hengan Group, said, "This partnership marks the coming together of the best in two industries, leveraging Hengan Group's leading position in the production of hygiene consumables in the China market and KLN's established network in China and the rest of Asia, broad customer base as well as trusted track record in domestic logistics in Hong Kong. Our ongoing collaboration with KLN has been fruitful and we have high hopes for this new venture." In 2020, KLN and Hengan Group worked together to meet the community's high demand for pandemic-related medical, healthcare and hygiene products including masks, gloves and toiletries.