9/13/2011

Logistics giant Aramex seeks growth opportunities in Turkey

Sabah - As Europe experiences a significant economic contraction with little or no prospect of growth in the near future, Turkey’s robust and rapidly growing economy continues to impress international investors. Backed by the highest GDP growth rate --8.8 percent-- in Europe and the second highest rate in the world for the second quarter, the country has attained a ‘safe haven’ status for global companies.

On this basis, the Jordan-based logistics company Aramex is in search of organic and inorganic growth opportunities in Turkey. According to its CEO, Fadi Ghandour, Aramex will expand its presence in the country and look into acquisitions. “Turkey’s growing economy will catch up with those in the West. Aramex intends to add new goals to its plans concerning Turkey by focusing on new growth opportunities,” said Ghandour regarding the company’s roadmap for Turkey.

Highlighting Turkey’s advantageous geographic location as a logistics center, Aramex’s CEO said they are evaluating takeovers and partnering options. Employing over 66,000 people in 12,000 offices around the world, Aramex is the first Middle Eastern company to have its stocks traded on the NASDAQ.
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