Aramex, the Dubai-listed global logistics company, today announced a series of strategic acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam.
Aramex expanding into four new markets
Aramex, the logistics firm headquartered in Jordan, said it has extended its global reach with strategic acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam.
The firm has upped its shareholding to 100 per cent of Aramex Turkey, which was previously a partially owned subsidiary.
Aramex, which is listed on the Dubai Financial Market, also acquired a majority stake in Avanti, an express courier in Malaysia, providing a platform for Aramex to grow in this developing nation's logistics and supply chain sector.
In Vietnam, Aramex formed a joint venture with Masan Services, a wholly owned subsidiary of Masan Corporation, to launch advanced logistics solutions. In addition, Aramex has acquired a majority stake in Expo Express Services, the company's subsidiary in Bangladesh. Terms of the deals were not disclosed.
"These acquisitions and joint ventures are a culmination of Aramex's efforts over the past two years towards building a comprehensive network in Asia," said Othman Aljeda, the chief executive of Aramex Asia.
Fadi Ghandour, the founder and chief executive of Aramex, said: "Today's announcement marks the first step towards the fulfilment of our strategy of being the company of choice in these emerging markets. We hope to soon announce further investments in Africa and Asia, and continue to build up on this strategy well into 2012."
With an expanding network that includes the Middle East, Europe, the US and Asia, Aramex currently employs 8,600 people in 310 locations.