Agility ponders major Asia acquisition
The chairman of Kuwaiti logistics major Agility has hinted at a significant purchase in Asia to drive revenues in that part of the world.
"Clearly, all else being equal, we would like to target acquisition in parts of the world that are growing and that means by definition emerging markets in Asia," Tarek Sultan, Agility's chairman and managing director, told Reuters in an interview.
The comment came as Agility opened its regional headquarters in Singapore, together with a 14,500 square-metre expanded distribution centre at Changi North.
The 6500-pallet centre has three floors designed for an ambient temperature warehouse, and two more levels provide conventional racking.
Although further details as to what sort of acquisition Agility would pursue are unclear, the last month or so has seen considerable activity in the firm’s global operations. Agility has expanded its headquarters in Houston, launched a warehouse in Riyadh, and is also seeing its 270,000 square-metre warehouse in Jebel Ali take shape.