(INCHEON=NEWSIS) Incheon International Airport Corporation (IIAC) announced on May 20 that Johnson Matthey Catalyst Korea’s Alfa Aesar opened its Asian logistics center at the airport’s free trade zone. The multinational Johnson Matthey Group is leading the metal and chemical industries by producing reagents for research purposes and catalysts.

Johnson Matthey is a British company with 200 years of history. It has more than 11,000 employees in 30 countries and manufactures reagents for laboratory and experimental uses, automotive catalysts and high purity jewelry. Revenue last year reached KRW 18.4 trillion.

The logistics center will keep about 45,000 types of the high purity reagents of Alfa Aesar manufactured in the United Kingdom and United States until they are distributed to Korea and to Asian countries including Japan, Taiwan and Hong Kong, serving as an Asian logistics hub.

Johnson Matthey and IIAC entered into an enforcement agreement for the construction of the logistics center last August. The British company invested USD 10 million in the center and completed construction on a storage facility and two warehouses for storing hazardous materials last month.

Johnson Matthey is the first foreign company to open a logistics center via foreign direct investment at the Incheon International Airport’s free trade zone.

“The IIAC expects the center to create more than KRW 45 billion in high added value and 300 tons of throughputs annually,” said an IIAC official.

asap8@newsis.com

Source Text

Source: Newsis (May 20, 2014)

** This article was translated from the Korean.