FINANCIAL NEWS

Aramex finalizes key acquisions, JVs

09 Dec 2010

(MENAFN) Dubai-based Aramex has announced a series of strategic acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam, Reuters reported.

The company has increased its shareholding to 100 percent in 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 higher levels of flexibility 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 per cent between 2003 and 2008.

Aramex also announced the acquisition of a majority stake in Avanti, a leading express courier company in Malaysia, providing the company with a platform to enter the country�s expanding logistics and supply chain sector.

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