Bashar Obeid, Chief Executive Officer of Aramex, said the acquisition would support the logistics company’s growth ambitions in Saudi Arabia.
The decision to sell came as a mutually agreed transaction that will allow both organizations to independently execute their strategic growth in the booming global e-commerce industry.
Saudi nationals are invited to join the Aramex Fleet platform through the official website: fleet.aramex.com.
Bashar Obeid, chief executive officer of Aramex, said the results were a product of ongoing growth in e-commerce demand in the region, as well as internal efforts to cut operational costs.
The service aims to provide an on-demand and customised customer interaction for shipment notifications, live location sharing, new delivery instructions and scheduling, offering last mile preferences and an upgrade to the company’s service level.
The first phase of the partnership will enable Aramex to launch service centers within 20 branches of Al-Dawaa Pharmacies distributed across the Kingdom.
Success of many solar projects in the Middle East stems from tariffs which tend to form one of the biggest barriers to entry for new players says Aramex.
Obeid said that the company would continue to deliver on its digital transformation strategy moving forward.
Solar plant on roof of Aramex warehouse is largest single-rooftop solar photovoltaic plant in the MENA region with 9,000 solar panels, covered over a total roof area of 38,000 square meters.
Abraaj Capital in 2002 bought a substantial stake in Aramex through its Cayman registered structured buyout fund, after which Aramex - then listed on Nasdaq as the first Arab company to trade its shares on a US stock exchange - was delisted.
Logistics and transportation services provider registers 13% rise in net profit during first quarter
Aramex has launched its brand new Shop & Ship (S&S) Affiliate and Partner Programs in the UAE to boost last mile e-commerce operations.
- 1 of 9