GLP signs lease deals with Fiat Chrysler, Daimler

SINGAPORE - Mainboard-listed GLP, a provider of modern logistics facilities, has signed new leases totalling 66,000 square metres (710,000 square feet) with two global auto makers in Brazil and China.

Fiat Chrysler Automobiles has leased 43,000 sq m in Sao Paulo, Brazil, and Daimler has leased 23,000 sq m in Greater Jinan, eastern China, GLP said in a filing with the Singapore Exchange on Tuesday (Sept 27).

Both companies are new customer relationships for GLP and will use the facilities to distribute vehicle parts for after-sales service.

GLP's other automaker customers include BMW, Chrysler, Ford, GM, Honda and Volkswagen.

Auto related leasing accounts for approximately 7 per cent of GLP's total leased area globally.