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FINANCIAL NEWS
UAE’s Aramex to expand presence in Turkey
12 Sep 2011
(MENAFN) Aramex’ chief executive, Fadi Ghandour, said that since the company planned to expand its footprint outside the Middle East, the region’s largest courier firm would make acquisitions in Turkey to connect its operations in the Arab world with the country, reported The National.
Ghandour added that the choose of Turkey came for the country’s fast growing economy, its enhancing e-commerce market and the continuous search for eastern markets to expand business and investment where the courier had strong presence in.
He also said that in the 1980s, Aramex started its operations in Turkey, moreover, last December; the Dubai-listed company increased its shareholding of its subsidiary, Aramex Turkey to 100 percent.
It is worth noting that Aramex’ second-quarter profit grew 3 percent to reach USD15.3 million although it stopped its operations in Libya and its business was affected by the political upheaval in both Egypt and Bahrain.
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