Aramex announces expansions in emerging markets

Ahram online, Thursday 9 Dec 2010

Aramex undertaked new expansionary projects in Asian countries and Turkey.

Aramex
Aramex expands to the East. (Photo: Reuters).

Aramex announced new expansions in Turkey and Asia, according to Beltone Financials.

The company increased its shareholding to 100 per cent in its Turkish subsidiary, acquired a majority stake in Avanti of Malaysia and in Expo Express Services of Bangladesh, and formed a joint venture in Vietnam.

Such expansions are in line with the company’s long-term strategy to invest in emerging markets. The company’s CEO stated that Aramex will soon announce further expansions in Asia and Africa.

In 2003, DHL acquired Airborne Express, Aramex’s main U.S. partner, resulting in Airborne Express’s exit from Airborne Alliance. That the same year, Aramex took over the alliance and co-founded the Global Distribution Alliance (GDA), a global alliance of 40 express companies with combined revenues of $7.5 billion. Aramex chairs the alliance which uses a shipment management system developed by the company.

The Jordan-based global transportation and logistics services company provides a variety of express, logistics, freight forwarding and domestic distribution services. It was founded in 1982 by Jordanian investor Fadi Ghandour.
 

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