Fritz Opens Yantian Consolidation Center to Serve Growing Business in Southern China.SAN FRANCISCO--(BUSINESS WIRE)--June 22, 1999-- Yantian Port, in Southern China, is fast becoming an increasingly vital part of the Asian economy. Today, Fritz fritz n. Informal A condition in which something does not work properly: Our television is on the fritz. [Perhaps from German Fritz Companies opens a brand new warehouse in Yantian in response to the region's growing importance and enabling customers to take advantage of the significant benefits of shipping from Southern China. One of the only bonded facilities in southern China, this new facility is the biggest warehouse in the region and it will offer a competitive edge to Fritz customers, who will enjoy substantial reductions in transit time transit time the time required for ingesta to pass through the gastrointestinal tract; a shorter transit time is seen in conditions associated with gut hypermotility, such as diarrhea. Delayed passage from any cause results in a longer transit time. and distribution costs distribution costs distribute npl → Vertriebskosten pl . Several major customers have already committed to shift their shipments from Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. to Yantian. "Companies doing business from Yantian will realize some major benefits," said Dennis Pelino, Fritz Companies President. "Even though Hong Kong is China's shipping capital, southern China has become the production center of the country. Within the next several years an increasing amount of goods are expected to pass through Yantian rather than Hong Kong." While Hong Kong's port has many advantages, container stuffing charges are about 25 percent higher there than they are in southern China. Currently double customs and double immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. result when shipping from Hong Kong. Also, the terminal handling charge is about $200 more per container in Hong Kong. Moreover, Hong Kong's escalating labor and land costs preclude building more warehouses there. "Truck traffic often backs up en route from Yantian to Hong Kong, causing transit delays of up to 13 hours. Now an infrastructure is developing in southern China that will make Yantian no farther used elliptically for) go no farther; say no more, etc. See also: Farther than 40 minutes from any point in the region. Because of that, products could move from factory to point of export all within Yantian," explained Billy Tse, Managing Director of Fritz Companies, Hong Kong/China. The warehouse is 2 1/2 kilometers from Yantian Port, which is accessible to the open ocean, yet convenient for ships to dock. While the current container volume of Yantian Port is only about 19 percent of the container throughput for Hong Kong, expansion plans at Yantian call for the port to double in size during the next five years to almost four million containers annually. Fritz will provide full-scale supply chain management operations in the facility, including consolidation services, customs supervision for export, a bonded warehouse bonded warehouse n → depósito de aduanas bonded warehouse n → entrepôt m sous douanes bonded warehouse n and a racking system for inbound in·bound 1 adj. Bound inward; incoming: inbound commuter traffic. Adj. 1. inbound shipments. Fritz already has its FLEX Warehouse Management System in place in the new facility to offer a full range of supply chain services. In addition, customers can operate Vendor Managed Inventory Vendor Managed Inventory (VMI) is a family of business models in which the buyer of a product provides certain information to a supplier of that product and the supplier takes full responsibility for maintaining an agreed inventory of the material, usually at the buyer's and predistribution programs. Construction of the two-story, 400,000 square-foot warehouse was completed in just 150 days. Fritz Companies is a leader in global integrated logistics, delivering comprehensive supply chain solutions to its clients worldwide. Fritz provides flexible service options, ranging from door-to-door transportation and material management to sophisticated information management -- integrated within customized logistics programs. The Fritz network is composed of more than 10,000 employees and more than 480 locations in some 115 countries. Fritz Companies, Inc. (Nasdaq:FRTZ) global headquarters is at 706 Mission Street, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA 94103 USA, (415) 904-8360. All recent press releases are available via fax-on-demand service accessed by dialing (888) 286-6419. Additional information is available via the Internet: http://www.fritz.com. |
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