MingZhu Logistics Holdings signs non-binding memorandum of understanding to acquire controlling interest in Xinjiang Feipeng Logistics.

Auto Business News-October 13, 2021--MingZhu Logistics Holdings signs non-binding memorandum of understanding to acquire controlling interest in Xinjiang Feipeng Logistics

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Auto Business News - 13 October 2021

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MingZhu Logistics Holdings Ltd. (NASDAQ: YGMZ), a China-based trucking service provider, has signed a non-binding memorandum of understanding to acquire the controlling interest of China-based Xinjiang Feipeng Logistics Co. Ltd., a services provider of slack coal transportation.

The transaction is intended to provide customers with an exclusive, crucial link between the first and last mile between slack coal mines and essential railroads. The firm expects the higher efficiency, lower cost intermodal transport services model will set a new standard for future transport. The deal is to effectively increase MingZhu's capacity...

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