Air Cargo News – The legacy of Covid-19
Tower Cold Chain has gained a second tranche of investment from Investec Bank following an initial injection of £6m into the business two years ago.
The pharmaceutical temperature-controlled specialist said the £6.7m fund would be used to manufacture more stock, expand into new hubs and provide digitalisation including the latest digital capabilities, such as the ‘Internet
Tower recently opened a Centre of Excellence at its global headquarters in Reading, England, which is now being
replicated in the Americas and Asia Pacific and will lead its drive towards diversication.
Tower says its hubs guarantee pharmaceuticals, third-party logistics and airline companies increased proximity and availability to its temperature-controlled containers and reduce the risk of disruption.
With the launch of hubs in Amsterdam, Chicago, Los Angeles and South Korea, the company says it will double the size of its network during 2022 alone. Tower said its original investment in spring 2020 took place, coincidentally, against the backdrop of the Covid-19 pandemic.
For full article please visit: Air Cargo News Autumn 2022 (3dissue.net)
Quoted by Niall Balfour CEO at Tower Cold Chain