Leading total transportation solutions contributor ARAMEX International 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.
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