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Thu 1 Feb 2007 12:00 AM

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Asian firm aquires stake in Majan Shipping

Asian-based Premier BALtrans, a freight forwarding and logistics group with a strong presence in the Middle East, has announced the acquisition of a 50% stake in Majan Shipping, one of the largest logistics companies in Oman.

 

Asian-based Premier BALtrans, a freight forwarding and logistics group with a strong presence in the Middle East, has announced the acquisition of a 50% stake in Majan Shipping, one of the largest logistics companies in Oman.

 

Premier BALtrans’s stake in Majan Shipping is in keeping with the firm’s strategy to expand and strengthen its freight forwarding business through relationships with brand partners.

 

Subsequent to the acquisition Majan Shipping will be appointed the exclusive international freight forwarding, logistics and delivery network agent for Premier BALtrans in Oman.

 

“In line with our strategy to expand across the region and to promote the market for international freight forwarding, logistics and delivery service for outbound and inbound shipments from the Middle East, we believe that the acquisition of 50% stake in Majan Shipping represents the best deal for the shareholders of both Premier BALtrans and Majan Shipping,” said Dr Mohamed Musa Al-Yousef, chairman of premier BALtrans.

 

“Looking forward it creates a platform from which to deliver growth and improved returns, based on a larger scale of business and stronger relationship with BALtrans,” said Al-Yousef.

 

“We are very keen to expand our freight forwarding, logistics and delivery services throughout the Middle East. The acquisition of an interest in Majan shipping brings us a step closer to achieving this objective,” said Jeff Khoury, managing director of BALtrans Logistics.

 

“The acquisition of 50% of Majan Shipping by Premier BALtrans represents an excellent strategic fit, significantly increasing our presence in Oman,” said Tony Capriatti, general manager of Majan Shipping.

 

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