L.A. port to consider FTZ activation for Nippon Express
The Los Angeles Board of Harbor Commissioners Thursday will consider a request from Japanese transportation firm Nippon Express Inc. to activate an 88-acre Foreign Trade Zone parcel northwest of the Port of Los Angeles.
The San Pedro site includes offices and a 350,000-square-foot warehouse. The Tokyo-based firm plans use the FTZ facility to handle imported and domestic consumer electronic products, office products, machineries and other merchandise for sale in the national market and may re-export their products.
The proposed agreement is for five years with three five-year renewal options.
A FTZ is government-designated site where special customs procedures may be used. Goods shipped into a FTZ are treated as duty-free until they are shipped out of the FTZ into the U.S. Goods imported into the FTZ can also be re-exported by companies without paying customs duties.
