Tuesday, October 26, 2010

Kenco Announcement

Valeant Pharmaceuticals International Signs Lease With Kenco’s JDK Real Estate, LLC in Chattanooga

CHATTANOOGA, Tenn.—October 26, 2010 (James Street Media Services)—Kenco’s JDK Real Estate, LLC unit has signed a lease with Valeant Pharmaceuticals International for 120,000 square feet of expanded and improved warehouse space in Chattanooga.

According to Wilson McGinness, leasing director, JDK Real Estate, “We are delighted that Valeant decided to expand its space with JDK.” Valeant will occupy the entire facility, which provides sufficient capacity for their pharmaceutical distribution requirements.

The benefits for Valeant include fully air conditioned space with fire suppression technology and improved electrical systems. Kenco Logistic Services will continue to manage all Valeant’s North American warehousing and distribution activities, and Kenco Transportation Services will continue to provide all transportation management services for domestic transport.

“I’m confident that a deciding factor of this arrangement was our experience in managing and our ability to perform the necessary tenant improvements. It’s a credit to our facilities management team,” McGinness says.

About Valeant Pharmaceuticals International, Inc.

Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) is a multinational specialty pharmaceutical company that develops, manufactures and markets a broad range of pharmaceutical products primarily in the areas of neurology, dermatology and branded generics. More information about Valeant Pharmaceuticals International, Inc. can be found at www.valeant.com.

About JDK Real Estate, LLC (http://www.kencogroup.com/www/docs/114.23/)

JDK Real Estate, LLC specializes in leasing, site selection analysis and tenant improvement consulting. The company owns approximately five million square feet of warehouse space in the United States. JDK services include contract negotiations, site optimization and selection, facility management, warehouse design, retrofitting for specialty needs, construction management, lease administration and aggressive space management.

About The Kenco Family of Companies (http://www.kencogroup.com)

Kenco's core competencies include not only logistics services but also transportation, real estate management and material handling equipment. The Kenco Family of Companies includes Kenco Logistic Services, Kenco Transportation, Kenco Toyota-Lift, Kenco Management Services, and JDK Real Estate.