ARAMEX Acquires Major Irish-UK Logistics and Freight Forwarding Company

Published April 16th, 2006 - 06:40 GMT

ARAMEX International, the leading total transportation solutions provider in the Middle East and the Asian Subcontinent, and trading on the Dubai Financial Market as (ARMX), has concluded an agreement to acquire Dublin-based Twoway-Vanguard, a logistics and freight service provider. The move is sure to enhance Aramex’s presence in the European transportation and logistics market and boost revenues to approximately $350 million for fiscal year 2006.

Commenting on the agreement, Fadi Ghandour, Aramex’s President & CEO, said: "We are steadily moving forward with our global expansion plan, and this acquisition is a major and very exciting step in that direction. Twoway-Vanguard is a great company that will strengthen our position in key European markets. It will also give us knowledge, management capabilities, a global multinational client base and substantial diversification in our revenue base.

“I am also happy that Tommy Kelly will remain with us as CEO of Twoway Vanguard,” continued Ghandour. “He is a great asset, with long years of pioneering and entrepreneurial work in the international logistics industry. I am also delighted that the whole management team of Twoway will stay on; they are among the best in the industry.”

Twoway-Vanguard, established 20 years ago, has a 15-office network across Ireland, The United Kingdom and The Netherlands, and employs over 350 employees. The company, whose revenue in 2005 topped $85 million, offers a complete range of logistics solutions that focus on Global Air Freight, Global Ocean Freight, UK-Ireland-UK Express Road Freight and Value Added Logistics.

Tommy Kelly, founder of Twoway and CEO since its inception, expressed his enthusiasm about the company’s future as part of the Aramex family. "Aramex is a unique company with a global vision in the transportation industry and we are very happy to become part of this vision." He added: "the new setup will make us a stronger outfit, providing us with new technology capabilities and giving us access to Aramex’s global network, all of which will allow us to serve our clients better and with more options."


About ARAMEX
ARAMEX - Arab International Logistics Co. (PJSC) listed on the Dubai Financial Market (DFM: ARMX), is the leading provider of total transportation solutions in the MENA region and South Asia, offering express delivery, freight forwarding and logistics solutions. Founded 24 years ago, ARAMEX employs over 4800 people in 240 offices spanning five continents and has a strong global alliance network offering worldwide presence.

 


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