LX Pantos acquires logistics center near Atlanta for $120 mn

LX Pantos Co., a logistics arm of LX International Corp., announced on Tuesday it has acquired a logistics center near Atlanta in Dalton, Georgia for around 170 billion won ($120 million).

The newly constructed facility includes two ambient-temperature warehouses spanning a combined 34,769 square meters — equivalent to 43 soccer fields. The state-run Korea Ocean Business Corp. provided financial backing for the deal.

Dalton is a logistics hub in Georgia. It is intersected by major highways and is close to Atlanta's international airport. 

The US state has become home to the US operations of some 140 South Korean companies, including home appliance brand LG Electronics Inc. and solar panel manufacturer Hanwha Q Cells Co.

The acquisition followed the establishment of a joint venture in February between LX Pantos and Ocean Network Express (ONE), Japan’s largest container shipper, to advance into the US intermodal logistics market.

An intermodal transportation company repurposes empty containers at ports for inland freight services to enhance efficiency and reduce costs.

Write to Bo-Hyung Kim at kph21c@hankyung.com

Yeonhee Kim edited this article.