NEW YORK, May 28, 2014 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (NasdaqCM: SINO) ("Sino-Global" or the "Company"), an international shipping agency and logistic services provider, today announced that it has signed a strategic cooperation agreement with Qingdao Zhenghe Shipping Group Limited ("Zhenghe") to jointly explore mutually beneficial business development opportunities. With over RMB 2 billion in total assets and over 6,000 employees, Zhenghe is one of the largest shipping and transportation companies in China. While the precise nature of cooperation will be dictated by successful completion of due diligence, negotiation and analysis of each company's respective strengths and business opportunities, Sino-Global expects that acquisition of assets or interests in one or more of Zhenghe's entities could be possible outcomes.
Mr. Lei Cao, Chairman and Chief Executive Officer of Sino-Global commented, "We are extremely excited about this unique opportunity to work with Zhenghe. We believe this strategic agreement lays the foundation for us to combine our strengths and resources for both parties' benefit."
About Qingdao Zhenghe Shipping Group Limited
Headquartered in Qingdao city, Shandong province of the People's Republic of China ("PRC"), Qingdao Zhenghe Shipping Group Limited ("Zhenghe") is a leading shipping and transportation company in China with its origin dating back to 1953 when its predecessor, state-owned Qingdao Shipping Corporation, was founded. With over 6,000 employees and total assets over RMB 2 billion, Zhenghe is a vertically integrated shipping and transportation company with businesses including ship building and repair, chartering, ship management, port management, domestic and international shipping (dry bulk carriers, container ships), shipping agency, and logistics services.
About Sino-Global Shipping America, Ltd.
Founded in the United States of America ("US") in 2001, Sino-Global Shipping America, Ltd. is a Virginia corporation with its primary US operations in New York. We provide our customers with comprehensive yet customized shipping agency, shipping and chartering, and inland transportation management services. As a general shipping agent, the Company serves ships coming to and departing from a number of countries and regions, including China, Australia, South Africa, Brazil, New Zealand, and Canada. For more information, please visit: www.sino-global.com .
Forward Looking Statements
No statement made in this press release should be interpreted as an offer to purchase any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties as identified in Sino-Global's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. Sino-Global undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect the events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
For more information, please contact:
Mr. Anthony S. Chan, CPA
Executive Vice President and Acting CFO
anthony@sino-global.com
+1-718-888-1814
SOURCE Sino-Global Shipping America, Ltd.
