Everest Kool Solutions is an emerging public refrigerated warehouse (“PRW”) business. Everest is focused on providing third party logistics services offering accurate, timely and cost effective solutions to its customers.
Everest has completed construction of a temperature-controlled facility in the Port of Poti, Republic of Georgia which opened in July 15, 2011. The facility is 6,500 square meters with 9,000 racked pallet positions capable of maintaining temperatures from -23°C to +3°C. The facility has 8 dock doors with a refrigerated dock and refrigerated rail siding to move product throughout the Republic of Georgia and beyond.
In September, 2012, Everest concluded a joint venture with Samsara Capital Group of India. Samsara Capital is a privately held investment company dedicated to real estate activities in India. The joint venture will operate under the banner Kool Solutions India and intends to construct 3 temperature-controlled warehouses in Mumbai, Delhi and Chennai starting in 2013. Everest will direct the design, construction and management of these facilities.
Everest is currently investigating several opportunities to enter the Australasian marketplace with planned facilities across New Zealand and Australia. The first facility opened in August, 2013 in Hastings, Hawkes Bay, New Zealand and will focus on the regional distribution requirements of local and multi-national food producers as well as providing a modern efficient export facility. The facility is 10,000 square meters with 11,000 racked pallet positions capable of maintaining temperatures from -25°C to +20°C.
In April, 2010, Everest entered into a joint venture agreement with the Town of Loriguilla, Valencia, Spain to construct and operate a 22 metre high, 20,000 pallet position temperature-controlled facility.
Everest is also investigating an opportunity in Guatemala City, Guatemala to construct a 6,000 pallet facility.
In 2008, Everest concluded a framework agreement for the development of warehouses, up to a total value of Euro 250 million (approx. U.S. $385 million), with Immoeast AG, of Austria. The partners planned to develop up to 15 temperature-controlled warehouses in Eastern Europe starting in Bucharest, Romania. Upon completion, Everest planned to operate the facilities under the name of “Everest Kool Solutions”. Due to the economic downturn in 2008/2009 this joint venture was terminated.
There is an unprecedented demand for modern temperature-controlled warehouse facilities to comply with international health and safety standards in these markets and to meet the burgeoning market created by consumer demands.