Xiamen Airport to takes over air cargo storage company

Shanghai-listed Xiamen International Airport Co., Ltd announced that it has acquired approval from Xiamen Foreign Investment Bureau to take over Xiamen International Airport Air Cargo Storage Co., Ltd through share transiting registration procedures at the end of June, Xinhua reported.

Xiamen International Airport unveiled its plan to acquire 51 per cent share of the storage company with CNY59.14 million (US$7.81 million) on March 30 with the aim of establishing an integrated air industrial chain and developing a new profit centre, the report said.