Aramex launches joint venture with Sinoair

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Aramex launches joint venture with Sinoair   

Dubai, November 27th, 2011: Aramex, the global logistics and transportation solutions provider, announced today that it has formally launched a joint venture company with Sinotrans Air Transportation Development Co., Ltd (Sinoair), as part of Aramex’s on-going strategy to expand its presence in key global emerging markets. The Aramex Sinoair joint venture has been formed with equal shareholding and combines Aramex’s technological capabilities, innovative services and strong global network with Sinoair’s diversified services and extensive coverage within China, the world’s second largest economy, which recorded 9.6% growth in GDP in the first half of this year. Sinoair, listed on the Shanghai Stock Exchange, is the leading provider of freight forwarding, international and domestic express, cargo transportation and logistics services in China. Commenting on the joint venture, Fadi Ghandour, Founder and CEO of Aramex, said: “We are extremely pleased to partner with Sinoair, the industry leader in this dynamic and strategic market. The formation of Aramex Sinoair not only expands and strengthens our operations in China and neighbouring East Asian economies, but also gives us the ability to serve our global clients better, and opens up enormous new opportunities for us.” The new joint venture will allow customers in China to access a variety of services, including international express, air, land and sea freight; logistics and warehousing; as well as brokerage and clearance services. Aramex Sinoair offices in Shanghai are fully operational with qualified and experienced staff. In the second phase, Aramex Sinoair will open additional offices in Beijing and Guangzhou, with further expansion planned in other major cities, serving both the country’s booming domestic market and businesses worldwide. “The opportunities for Aramex in China are clearly tremendous, and we believe that through our partnership with Sinoair, we will be well-positioned to extend our full range of services across China to meet the growing demands of the economy, while linking China with its major trading partners in the Middle East and Africa,” said Othman Al Jeda, Aramex Chief Executive Officer in Asia. According to the government of China, trade volume between China and the Middle East in 2010 surged to a record $190 billion, and in the first half of 2011, trade increased by 36 percent to reach $120 billion.
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