Boustead subsidiary secures S$19mn deal with Greenpac

Boustead has $116mn of industrial real estate contracts secured since start of FY2012 in April.

Boustead Singapore Limited (“Boustead”) announced that its wholly-owned subsidiary, Boustead Projects Pte Ltd (“Boustead Projects”) – a leading specialist in industrial real estate solutions – has been awarded a S$19 million contract to design and build an integrated manufacturing and R&D centre (the “Facility”) for Greenpac (S) Pte Ltd (“Greenpac”) located at the Tukang Innovation Park (the “TIP”) in Singapore.

Greenpac offers innovative and holistic environmentally-friendly packaging solutions, reengineering industrial packaging processes to achieve efficiency and bottomline savings for its clients. Greenpac’s products have been used across the broadcasting, defence, electronics, IT and medical industries, where it works closely with many multinational corporations and Fortune 500 corporations which require stringent packaging processes for transport and storage.

With a gross floor area of approximately 18,000 square metres, the Facility – which is earmarked to attain Green Mark Gold – will house manufacturing and R&D activities spread over four floors. The Facility is expected to be completed in 4Q 2012.

This is Boustead Projects’ second project at the TIP. In March 2011, Boustead Projects was awarded a S$17 million contract to design and build an integrated high-tech production and R&D centre within the TIP, an attractive operations site for strategic research and innovation industries that wish to tap on the proposed and existing tertiary education institutions, the Nanyang Technological University and National University of Singapore, to form collaborative partnerships for the research and development of new technologies for industry applications, according to a Boustead report.

Mr Thomas Chu, Managing Director of Boustead Projects said, “We would like to thank Greenpac – one of Singapore’s most successful companies in providing environmentally friendly industrial packaging solutions – for placing their confidence in Boustead Projects. Greenpac’s new eco-hub at the TIP will be a showcase of their eco-friendly business model through environmentally-friendly products and responsible entrepreneurship, as well as a demonstration of their commitment to green values through the creation of an environmentally-sustainable ‘home’, which is earmarked to attain Green Mark Gold.”

Separately, Boustead Projects was also awarded a S$2 million contract to design and build a 1,800 square metres extension to an existing integrated logistics and office facility owned by Golden Spring Export Pte Ltd at the Changi International LogisPark in Singapore. Boustead Projects designed and built the existing facility in 2004.

With the addition of the latest two contracts, the Boustead Group’s order book backlog (as at the end of June plus new orders since then) currently stands at over S$320 million.