🧊 Hongxing Coldchain launches Hong Kong IPO

Welcome back to CubeCold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

• Hongxing Coldchain launches Hong Kong IPO to raise HK$285 million

• Sdiptech acquires STORR to strengthen cold-chain transport solutions cluster

• Americold appoints two new board directors and establishes Finance Committee

• DSV develops 30,000 sqm logistics hub in Jebel Ali South, Dubai

• Snowman Logistics expands into chemical sector with Tamil Nadu warehouse

News

Hongxing Coldchain launches Hong Kong IPO to raise HK$285 million Frozen food storage services provider Hongxing Coldchain (Hunan) Co. Ltd. launched its Hong Kong IPO, offering 23.26 million shares at HK$12.26 ($1.58) each to raise HK$285 million ($37 million), with trading expected to begin January 13.

• Founded in 2006 and headquartered in Changsha, Hunan province, the company operates an integrated business model combining cold storage facilities with frozen food shop leasing, connecting wholesalers and retailers across the supply chain.

• Hongxing ranks as the largest frozen food storage service provider in Hunan and Central China by 2024 revenue, holding 0.7% national market share, while ranking second in Central China for frozen food shop leasing with 1.9% national share.

• Fuhuida HK has committed as a cornerstone investor, agreeing to purchase roughly HK$22 million (US$2.8 million) in shares.

• Proceeds will fund construction of new processing plants and cold storage warehouses, equipment and IT upgrades including AI technologies, plus strategic acquisitions and partnerships. (Finimize)

Sdiptech acquires STORR to strengthen cold-chain transport solutions cluster Sdiptech AB has acquired 100% of STORR B.V., a Netherlands-based provider of premium partition wall solutions for refrigerated transport, generating annual revenue of approximately EUR 2.3 million (US$2.4 million).

• Founded in 2005, STORR has a strong European market position, particularly among refrigerated fleet operators and commercial vehicle body builders.

• The company's partition walls are considered best in class, offering superior ease of use, long service life, and excellent temperature-control capabilities, with patent protection and significant aftermarket share reinforcing competitive advantages.

• The acquisition complements Sdiptech's cold-chain cluster alongside GAH Refrigeration and JR Industries, strengthening capabilities across temperature-controlled transport solutions.

• The market for insulated transport is growing, driven by food distribution, pharmaceutical logistics, and fleet upgrades across Europe, with particularly strong growth potential in Germany. (Sdiptech)

Americold appoints two new board directors and establishes Finance Committee Americold Realty Trust announced the immediate appointment of Joseph Reece and Stephen Sleigh as independent directors to its board, while establishing a new Finance Committee to enhance shareholder value.

• The company simultaneously entered into a cooperation agreement with shareholder Ancora Group Holdings LLC to enable private collaboration.

• The five-member Finance Committee, chaired by David Neithercut with Reece as Vice Chair, will review Americold's portfolio by region and market to recommend potential sales or divestitures, including possible international divestitures.

• The committee will also identify opportunities to reduce debt while maintaining dividends and preserving core assets.

• CEO Rob Chambers emphasized that these changes support the company's 2026 transformation priorities focused on strategic capital management, portfolio optimization, operational excellence, and disciplined growth.

• Ancora's leadership expressed confidence in Americold's commitment to governance and value creation, agreeing to support the board's full slate at the 2026 Annual Meeting. (Americold)

DSV develops 30,000 sqm logistics hub in Jebel Ali South, Dubai DSV is constructing a state-of-the-art 30,000 sqm logistics hub in Jebel Ali South, Dubai, scheduled to begin operations in March 2026.

• The facility will provide approximately 74,000 pallet positions within a 22-meter high-bay warehouse equipped with in-rack sprinklers, multiple dock doors and ramps, shaded outdoor storage, onsite offices, and value-added service zones.

• A warehouse management system with RF-enabled technology will ensure end-to-end traceability.

• The hub will feature several temperature-controlled chambers designed for food, pharmaceuticals, and other temperature-sensitive cargo.

• Strategically positioned near Jebel Ali Port and major road corridors within DSV's JAFZA South campus, the hub will enhance the company's connectivity and fulfilment capacity for customers across the UAE, GCC, and wider MENA region, reinforcing Dubai's position as a global logistics gateway. (DSV)

Snowman Logistics expands into chemical sector with Tamil Nadu warehouse Snowman Logistics, a major player in India's temperature-controlled logistics sector, has launched its first A-Grade dry warehouse for the chemical industry in Shoolagiri, Tamil Nadu, marking its inaugural entry into hazardous chemical storage and distribution.

• The 50,000 sq ft facility, located within Horizon Industrial Parks, features 5,500 metric tons storage capacity utilizing a G+5 racking system, equipped with modern storage technologies, advanced monitoring systems, and fire protection measures.

• The company partnered with BDP UGL Global Logistics, a leader in automotive chemicals, to implement global standards for managing hazardous chemical storage.

• The warehouse will operate 24/7 with dedicated transportation services and comprehensive monitoring throughout the logistics process.

• This strategic expansion aims to strengthen Snowman's position in the Indian chemical logistics market while setting new standards for compliance and excellence in the sector, meeting evolving regional chemical industry demands. (Maritime Fairtrade)

Other headlines

Americold expands into Australian convenience store distribution through partnership with On the Run (OTR), providing storage and distribution services from Adelaide to support OTR's rapid national expansion across the petrol and convenience sector.

Petit Forestier adds 275 electric IVECO eDaily trucks with Lecapitaine URBAN refrigerated bodies to its fleet, part of a 2022 agreement for up to 2,000 vehicles to accelerate zero-emission urban distribution across Europe.

PML Seafrigo appoints Sean Smith as new CEO to replace founder Mike Parr, who established Perishable Movements in 2003 and led it through its July 2023 acquisition by Seafrigo Group.

Lamberet Group appoints Vincent Blaising as Vice President of Sales and Customer Service for EMEA, bringing 38 years of refrigerated transport experience to oversee sales, distribution networks, and after-sales service across the region.

Sono Solar wins the European Transport Prize for Sustainability 2026 for its solar-powered refrigerated vehicle solution that powers refrigeration units and auxiliary systems directly on vehicles, reducing CO₂ emissions and lowering fleet costs.

CONCOR completes its first pharmaceutical reefer export to Singapore, shipping Sun Pharma products in its own 20-foot Hybrid Reefer container under CONCOR's first-ever Bill of Lading.

That’s it for this week!

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