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Century Logistics expands to Dubai |
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2/7/2006 7:50:54 AM |
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THE Century Logistics group has formed a joint-venture (JV) company in the United Arab Emirates (UAE) to undertake logistics activities there.
In a statement to Bursa Malaysia, Century Logistics Holdings Bhd said the focus of the JV company would be in Dubai, the commercial centre of the UAE where 60% of Middle East's imports were routed through Jebel Ali, Dubai's transport hub.
The JV company, Century Polaris Logistics LLC, will expand the Century Logistics group's “total logistics and supply chain management services into the Arabian Gulf, together with participation of strong local partners,” the company added.
Century Logistics will hold a 29% stake in the JV company, while Mana Salem Mohammad Al Mana will own 51%, with Polaris Global Agencies Inc having the balance of 20%. Mana is a citizen of the UAE.
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