We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Thu 9 Dec 2010 12:10 PM

Font Size

- Aa +

Aramex signs new acquisitions in Turkey, Malaysia and Bangladesh

The Jordan-based transport company has also a joint venture partnership in Vietnam

Aramex signs new acquisitions in Turkey, Malaysia and Bangladesh
Aramex has embarked on a new phase of growth and expansion, according to Aramex founder and CEO Fadi Ghandour.

Logistics and transport giant Aramex has completed a number of new acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam, the Amman-based firm said in a statement on the Dubai Financial Market on Thursday.

The company has increased its shareholding to 100 percent of Aramex Turkey, which the company said “has performed strongly.”

Aramex also announced that has acquired a majority stake in Malaysia’s Avanti and has acquired a majority stake in Expo Express Services, the company’s subsidiary in Bangladesh.

Finally, Aramex signed a joint venture partnership in Vietnam with Masan Services, a wholly owned subsidiary of Masan Corporation. Masan Corporation is the majority shareholder of Masan Group which is one the largest listed private-sector companies in Vietnam. Aramex plans to start its operations in Vietnam next year.

“Aramex has embarked on a new phase of growth and expansion and this is just the beginning of the company’s investments in key emerging markets,” said Fadi Ghandour, Aramex founder and CEO.

“We hope to soon announce further investments in Africa and Asia, and continue to build up on this strategy well into 2012,” he added.

In October, Aramex announced that net profits for the first nine months of 2010 rose eleven percent to AED149.1m ($40.60m).

Arabian Business: why we're going behind a paywall

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.