Aramex goes on acquisition and investment spree
Aramex has announced a number of acquisitions and partnerships in Turkey, Malaysia, Bangladesh and Vietnam.
The company has increased its shareholding to 100% of Aramex Turkey, previously a partially owned subsidiary and taken a majority stake in Avanti, an express courier company in Malaysia.
Aramex has also completed the acquisition of a majority stake in Expo Express Services, the company’s subsidiary in Bangladesh, and in Vietnam, Aramex has formed a joint venture with Masan Services, to launch logistics services in the country.
“Aramex has embarked on a new phase of growth and expansion and this is just the beginning of the company’s investments in key emerging markets,” said Fadi Ghandour, Aramex founder and CEO.
“Today’s announcement marks the first step towards the fulfillment 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.”