Iron Mountain Expands Presence in China

SHANGHAI—Boston-based Iron Mountain Inc. reports in a deal that significantly expands its base of operations in China, the firm has acquired GRM China, a division of GRM Document Management.

The acquisition of GRM China will expand Iron Mountain‘s presence in Beijing, Shanghai, Guangdong, Qingdao, Dalian, Chengdu and Wuhan (including more than 2.5 million cubic feet of storage) and will add 550 customers and 170 employees to the storage and information management services firm’s Chinese operations.

“The opportunity to add this level of operational and storage capacity and customer relationships, along with a talented team, represents an important milestone for our Chinese business,” says Peter Hwang, managing director, Iron Mountain Asia. “GRM China’s history as a pioneer of the records and information management industry, and as one of the first government-licensed providers in the Peoples Republic of China, carries a great deal of significance.”

GRM China was the first licensed provider of records and information management services in the Peoples Republic of China. The company opened its first branch in Shanghai in 2003 and now delivers document storage, media storage, document imaging, secure destruction and information management consulting services to both large multinationals and local companies. Its client base includes companies engaged in insurance, banking and finance, manufacturing, accounting, consulting, engineering, technology and professional services.

“The acquisition of GRM China advances our strategy for expanding Iron Mountain’s presence in faster growing Asian markets like China,” says Ernest Cloutier, executive vice president and general manager, International for Iron Mountain. “In Asia we see a growing opportunity for records and information management outsourcing. We seek to capitalize on this opportunity, in part, by acquiring leading local providers that share our commitment to best-in-class service delivery, trust and security.”

In late September, Iron Mountain reported that its operations in Belgium, Ireland, The Netherlands and the United Kingdom achieved the company’s stated goal of utilizing 100% of their electricity consumption from renewable energy sources. The milestone followed its joining of the RE100 initiative earlier this year in which Iron Mountain committed to using renewable energy sources for 100% of its worldwide electricity.

Iron Mountain maintains a real estate network of more than 85 million square feet across more than 1,400 facilities in more than 50 countries.