Preferred Freezer announces joint venture in China

Chatham-based Preferred Freezer announced Thursday it has entered a joint venture to build and operate cold chain logistics businesses in China. Financial details of the venture were not disclosed.

According to the announcement, the joint venture with Chinese logistics service provider Sinotrans Limited; affiliates of Yang Ming Marine Transport Corp., a Taiwanese global cargo services provider; and the Yida Group, an urban design and real property developer, will expand Preferred Freezer's Chinese footprint. The company has operated a smaller joint venture in China since 2009.