ROSLYN, N.Y., Nov. 29, 2017 /PRNewswire/ -- Sino-Global
Shipping America, Ltd. (NASDAQ: SINO) ("Sino-Global", the "Company"
or "we"), a non-asset based global shipping and freight logistics
integrated solution provider, today announces the signing of a
Strategic Collaboration Agreement with Sichuan Metals and Minerals
IMP. & EXP. CORP. ("SCMMC"), a subsidiary of Sichuan Foreign
Trade Group Co Ltd., a leading state-owned importer/exporter in the
Sichuan province in
China.
Pursuant to the Strategic Collaboration Agreement, Sino-Global
will serve as the exclusive purchasing agent and logistics service
provider of sulfur products in the United
States for SCMMC. The collaboration is in alignment with the
Company's ongoing effort towards the containerization of imported
commodities, shipped from the United
States to China. This
agreement will also mark the beginning of SCMMC's switch to
containerization from the traditional bulk shipment of its products
by exclusively using Sino-Global's innovative and cost-effective
door to door container solution for the transport of its sulfur
products. SCMMC has begun placing orders with Sino-Global for the
purchase of approximately 2,400 metric ton or 120 containers of
sulfur. Sino-Global expects to generate approximately $360,000 of revenue from these initial orders,
with the Company expecting additional sales contracts to be
finalized in the coming months.
Mr. Lei Cao, Chief Executive Officer of Sino-Global, stated, "We
are excited to enter into this agreement with SCMMC. With this
agreement, we are able to leverage our long-term relationship with
China COSCO, China's largest
integrated shipping company, to secure these containers at a
discounted price while offering SCMMC a cost-effective solution for
the materials they traditionally ship via break bulk. We are
confident that containerization offers key advantages over bulk
shipments, and given the ongoing increase in Chinese demand we
intend to capitalize on the opportunity that containerization
provides. By partnering with one of the leading state-owned import
companies in China, we increase
the Company's exposure as global logistics service provider which
we believe will lead to additional contracts and increase sales
over the long term. We intend to continue to seek additional
customers and strategic partnerships that will further supplement
our end to end global logistics services in the future and drive
value for our shareholders."
About Sichuan Metals and Minerals IMP. & EXP.
CORP.
SCMMC is a subsidiary company of Sichuan Foreign Trade Group Co
Ltd, China's largest in size
enterprise with SCMMC being one of the top ten exporters in
Sichuan province. Established in
1980, SCMMC became the first professional foreign trade company to
pass the ISO9002, an industry standard created by the International
Organization for Standardization and a model for quality assurance
in production, installation and servicing. The company produces a
variety of non-ferrous metal, ferrous metal, ferroalloy, nonmetal
minerals, and chemically treated raw material. The company
also manufactures machine tooling and accessories, measurements and
cutting tools, construction hardware, sanitary hardware, furniture
hardware, kitchen hardware as well as an array of educational
instrument products.
About Sino-Global Shipping America, Ltd.
Founded in the United States in
2001, Sino-Global Shipping America, Ltd. is a company engaged in
shipping, chartering, logistics and related business services.
Headquartered in New York,
Sino-Global has offices in Los
Angeles, mainland China,
Australia, Canada and Hong
Kong. The Company's current service offerings consist of
inland transportation management, freight logistics and container
trucking services. Additional information about Sino-Global can be
found on the Company's corporate website at www.sino-global.com.
The Company routinely posts important information on its
website.
Forward Looking Statements
No statement made in this press release should be interpreted as
an offer to purchase any security. Such an offer can only be made
in accordance with the Securities Act of 1933, as amended, and
applicable state securities laws. Any statements contained in this
release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties as
identified in Sino-Global's filings with the Securities and
Exchange Commission. Actual results, events or performance may
differ materially. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
the date hereof. Sino-Global undertakes no obligation to publicly
release the results of any revisions to these forward-looking
statements that may be made to reflect the events or circumstances
after the date hereof or to reflect the occurrence of unanticipated
events except as required by applicable securities regulations or
rules.
Contact Information
The Equity Group Inc.
Adam Prior
Senior Vice-President
(212)-836-9606 / aprior@equityny.com
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SOURCE Sino-Global Shipping America, Ltd.