DUBAI – IRELAND – One of the largest of the Middle East logistics specialists, Aramex, have continued their policy of expansion through acquisition by buying up Irish based freight forwarder and liner agency Aquaship Agencies. The deal follows recent partnerships and acquisitions in Turkey, Malaysia, Bangladesh, Vietnam and Kenya.
Aquaship was founded in Dublin in 1993 and opened in Cork five years later. In 2007 the company set up Ireland North Atlantic Line (INAL) the first Irish owned NVOCC to trade routes between Ireland and Canada, the USA and Mexico. Aramex surpassed its own profit forecasts for 2010 with a rise of over 10% in the last quarter against 2009 but is cautious about rising costs in the coming months.
Aramex’s say their existing customers active in Ireland will have immediate access to the company's new ocean freight capabilities. Aramex further believes that there will be a range of cross-selling opportunities, especially in areas of Aquaship specialization, with cargoes such as food products, pharmaceuticals and high-end art movements.
Photo:- Aramex joined with Global Investment House last year to aid flood victims in Pakistan.
