In one of the major regional acquisitions, Dubai-based Liberty Investment Company (LIC) announced today that it had concluded an agreement with international freight-forwarding and logistics company, Air-Tiger Express (ATE), to buy out all of the latter’s shares in their joint venture, ATE-Liberty Logistics.
Air-Tiger Express, a well-known consortium of trans-Pacific and North American logistics companies, stated that the company’s decision to sell its 50 percent stake in the venture is in line with ATE International’s policy to consolidate its operations in the core markets where it has already established a formidable presence.
With the acquisition, ATE-Liberty Logistics will henceforth be known as Liberty Logistics L.L.C. The new company will be headed by Mohin Jassal, a veteran in the regional freight-forwarding and logistics industry, and managed by a highly qualified team of professionals with intricate knowledge of the business. Jassal, who has been associated with the LIC group for over 10 years as part of the management team in the freight-forwarding division under the LIC umbrella, brings considerable experience to the new company.
A restructuring of the operations entails further strengthening of the company’s core activities that include air freight, ocean freight and total logistics solutions across major regional markets.
Richard Chu, Chairman and CEO of Air-Tiger Express International, said that after selling its stake in the UAE joint venture, ATE would now be able to concentrate on restructuring its activities in North America while continuing to maintain a close working relationship with Liberty Logistics to support the latter’s operations on the international level.
According to Sheikh Khalid Bin Abdul Aziz Al Qasimi, Chairman of the LIC Group, “Our investment in Liberty Logistics is another example of LIC’s strategy of encouraging profitable business trends to build successful frontline companies over time, through acquisitions and strong internal growth. The compelling industry dynamics, combined with the quality of our management team, make us very enthusiastic about the future of this company.”
LIC Group Director Musharaff Hossain pointed out that the strategic partnership with ATE provided Liberty Logistics with the opportunity to understand and incorporate international logistics trends into its regional operations. “Both ATE and Liberty have learnt and capitalized on the optimized use of management resources to service the Middle East logistics market. Our synergies have helped develop a strong player in the freight-forwarding industry,” Hossain added.
Currently, Liberty Logistics is well-positioned to take advantage of the booming business environment in the region, offering cost-effective and high-quality logistics solutions. The company manages export and import to and from major regions worldwide, express clearance and storage facilities, deconsolidation and re-export from its Jebel Ali warehouse facility, using Dubai as a trans-shipment hub in the Middle East.
Liberty Logistics has its headquarters in the Liberty Building (Al Garhoud, Dubai) and in the Dubai Airport Cargo Village.
