Corporate Announcement
Security Code : 538635    Company : SNOWMAN    
  Exchange Disseminated Time     22/06/2016 11:54:16
Snowman Logistics Ltd has informed BSE that the Company is setting up a new facility at the Gateway Distriparks Logistics Park in Krishnapatnam which will have a capacity of 3,500 pallets of temperature controlled and dry warehousing. This facility can be further scaled up to 10,000 pallets in a phased manner within the next two years. The location is 7 kms from Krishnapatnam port, which currently services the requirements of Southern and Central Andhra Pradesh such as the newly developed Sri City industrial region, Eastern Karnataka, Northern Tamil Nadu and Eastern Maharashtra. Furthermore, combined with its existing Chennai, Hyderabad and Vishakhapatnam facilities, Snowman will be in a position to fully cater both Tamil Nadu and Andhra markets as it's locations are close to each market and near all the major ports in the area - Krishnapatnam, Vishakhapatnam, Chennai, Kattupalli and Ennore. This will place Snowman with the Gateway Distriparks CFS in a unique position to be able to offer a bundled solution to the EXIM trade through the CFS and temperature controlled storage and distribution facilities.

The facility is scheduled to become operational by March 2017 and will cater to the EXIM trade including sea-food, meat, dairy products, pharmaceutical products, fruits and fruit pulp. Snowman's current capacity is 98,500 pallets which will go up to 103,000 pallets once the Cochin warehouse, currently under construction, is operational in the next quarter. With the addition of the Krishnapatnam facility, Snowman's total capacity will reach 106,500 pallets in this financial year.


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