Aramex expands partnerships in Asia

Logistics and transportation solutions provider Aramex is expanding its strategic acquisitions and partnerships in Malaysia, Vietnam, Bangladesh, and Turkey, reported Manila Bulletin.

Aramex has acquired a majority stake in Avanti, a leading express courier company in Malaysia, providing Aramex with a platform to enter the country's expanding logistics and supply chain sector. This acquisition will pave the way for the introduction of Aramex's portfolio of products and services in Malaysia.

In Vietnam, Aramex has formed a joint venture partnership with Masan Services, a wholly-owned subsidiary of Masan Corporation, to launch advanced logistics solutions in one of the world's fastest growing economies.

This partnership, will allow Aramex to start introducing its complete range of products and services in Vietnam in 2011.

The company has increased its shareholding to 100 percent of Aramex Turkey, previously a partially owned subsidiary that has performed strongly in the country, achieving continuous annual growth to date.

This acquisition positions Aramex as a fully committed logistics and supply chain provider in Turkey, allowing the company to expand its presence and carry on further investments in the world's 16th largest economy, which registered average annual real GDP growth of six percent between 2003 and 2008.

In addition, Aramex has acquired a majority stake in Expo Express Services, the company's subsidiary in Bangladesh, reinforcing Aramex's operations in this high-growth Asian nation.

With pro-investment government policies, a sustained influx of multinational firms and continued expansion in exports, Bangladesh has witnessed year-on-year GDP growth of between five to six percent since 1996.

“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.
(Source:www.cargonewsasia.com)