Sharjah-based firm takes controlling interest in Avalon General Land Transport L.L.C.
Sharjah-based ports, transport and logistics company Gulftainer have taken a controlling interest in UAE-based Avalon General Land Transport L.L.C.
Gulftainer Managing Director Peter Richards was keen to highlight the merits of the deal, after the signing in Sharjah at the end of April with Ravi Punjabi, Managing Director of Avalon.
"We have been talking to Avalon for some time" he said, "Both companies recognised the merits of a partnership which would enable us to maximise the complementary strengths of our organisations".
Gulftainer's transport activities, now operating under 'Momentum' branding, will now be enhanced and expanded with wider access to GCC markets, more specialist equipment and increased ability to participate in major contracts in the logistics and distribution industry.
"We believe, that with the excellent reputation our companies enjoy, this link up can only benefit the customers we serve now, and boost our ability to work with other customers in the future", Mr Punjabi contributed.
"Certainly the core strengths and customer bases of each part of the new expanded group will remain as is, as we build on these solid foundations," Mr Richards added.
Gulftainer Group has over 30 years' experience operating in the UAE and around the world, and currently operates two UAE ports on behalf of the Sharjah Port Authority – Khorfakkan Container Terminal and Sharjah Container Terminal. Gulftainer's logistics subsidiary, Momentum Logistics, was established in 2008 to take over the Group's transportation and logistics business and has offices throughout the Middle East.
12 May 2010