Tristar to achieve its $300 million 2012 revenue target
Tristar Transport Group CEO Eugene Mayne announced that the firm was on track to achieve its US$300 million year-end revenue target.
The announcement was made to 30 of the company’s senior managers, who were representing Tristar branches from around the world, at the first ever Tristar Leadership Summit in Dubai.
“The Group is on track to meet its financial target for 2012,” said Mayne, while presenting the firm's five-year strategic business plan to the executives. “Top line revenue is expected to close at around $300 million which is in line with this year’s plan.
“New businesses in 2012 included the commissioning of bunker barge operations in Mauritius and commencement of turnkey fuel operations in Haiti.”
At present, Tristar operates in 12 countries in the Middle East, Africa, Asia, the Pacific island of Guam and Central America. It employs around 1800 people and has a fleet of more than 1000 trucks in the Gulf Cooperating Council (GCC).
“We are looking to commence operations in the Kingdom of Saudi Arabia in 2013. This move will complete our mission to operate a GCC-wide road distribution network. We are also hopeful to add at least one more country in 2013 to our network of turnkey fuel operations in Africa,” added Mayne.
Tristar started as a Dubai-based transport company and is now a fully integrated liquid logistics company serving the petroleum industry with interest in surface transport, ship owning and operating, specialised warehousing for lubricants and chemicals, turnkey fuel operations, fuel farms, and into-plane aviation fuel services.
According to Mayne, Tristar was established in 1998 to be a responsible business. It has not only operated to the highest health, safety and environmental standards but also cared for the local communities. “Over the years Tristar has developed a strong corporate responsibility (CSR) culture and today CSR is an integral part of the company’s business strategy,” he said.
“The company’s annual business plan provides for contributions in the social, environment and economic pillars by setting targets and measuring how the company positively helps the community and protects the environment.”
In 2011 Tristar was the recipient of the Arabia CSR award, despite being a first time entrant, and in November Mayne was invited to speak at the World Forum in Lille, France on Responsible Entrepreneurship. The theme of his presentation was ‘Giving back is also getting back’.