FAST Logistics Group, a leading domestic logistics firm owned by the Chiongbian family, is setting a P2-billion capital expenditure over the next two years to support its goal to achieve a leading nationwide presence in the cold chain service sector.
William B. Chiongbian II, group president & CEO of FAST Logistics Group, revealed the investment plan at the inauguration of the company’s two new cold chain hubs in Cebu and Cavite under its brand “FRESH”.
At the virtual press conference for the launch of “FRESH by Fast”, Chiongbian noted that the choice of Cebu as its first major investment in the cold chain is of no accident given their many decades of history in Cebu.
“The Group considers Cebu our home, where our businesses in shipping and logistics took root many decades past,” he said. Aside from that, he said, Cebu is growing fast where businesses are in need of cold chain facility support.
The North Cebu hub is the first intelligent cold storage facility in the country today, he said. It is an integrated facility with more than 10,000 pallet positions. It is now available to serve those who are in the business of fresh meat processors, importers, local producers, fruits and vegetable retailers, quick service restaurants, pharmaceuticals and vaccines, and even those in e-commerce. “We have designed this to be flexible so it can serve the big brands as well as the SMEs whose growth we champion,” he said.
Meantime, the FAST Cold Chain Hub Cavite will serve the Luzon cold chain requirements. The two hubs, plus the ones the FAST Group manages for its principals, will bring its total cold chain footprint to at least 30,000 pallet positions. This is an expansion brings its warehouse management footprint of more than 1.2 million square meters for dry storage.
“We’re studying several other sites to realize the vision of a leading presence in cold chain nationwide,” he said.
The end-to-end logistics and supply chain provider in the Philippines was founded by the Chiongbian Family in the 1970s. Fast has a workforce of 11,000+, spread across 53 branches nationwide, over a million square meters in warehouse footprint, and a distribution network of close to 90,000 stores. Throughout 47 years, Fast has served a whole spectrum of enterprises, from the largest multinational companies and Filipino conglomerates to tens of thousands of sari-sari stores and neighborhood groceries. Today, the Group is present in transport logistics, warehouse management, selling distribution, toll manufacturing, and value adding supply chain services.