Singapore's logistics company opens 2nd warehouse amid downturn

Special Report:Global Financial Crisis

SINGAPORE, Feb. 3 (Chinese media) -- Singapore's logistics company Air Market Express (S) Pte Ltd Tuesday opened its second warehouse amidst the economic slowdown, according to a statement on the Singapore government's official website.

The 80,000 square feet warehouse will serve as a regional distribution center targeted at international markets, it will also be used as a base for products destined for the Asian market and also for Asian producers exporting to the rest of the world, the statement said.

The company is forecasting a revenue of 30 million Singapore dollars (about 19.8 million U.S. dollars) from its expanded warehousing and distribution operations.

Air Market first ventured into warehousing and regional distribution in 2006. It is now moving beyond freight and transportation to offer complex supply chain management and specialized logistics handling services.