GMAC Logitech Refrigeration Corporation, the joint venture company of Ayala Corp subsidiary AC Logistics and Glacier Megafridge, Inc. (GMI) is expecting the demand for cold storage to have an average growth of ten percent over the next 5 years. This as it selected Cagayan de Oro as the location of its first cold storage facility project.
In a presentation in the latest Ayala Corp Analysts Briefing last November 12, it identified the city as the business hub of Northern Mindanao where large fast-moving consumer goods (FMCG) companies are located citing Nestle, Del Monte and Oishi, among others.
The project is expected to be completed in the 4th quarter of 2022. View photos during the groundbreaking in our previous post below.