Dubai’s Aramex splits business; announces key appointments

Dubai’s Aramex splits business; announces key appointments

Dubai-listed logistics firm Aramex will split its core business in two, to stay ahead of competition in the changing industry, , the company announced on Tuesday. The company has created Aramex Express to handle the business-to-consumer (B2C) operations, and to serve the business-to-business (B2B) segment, the company said in a statement to Dubai Financial Market (DFM). Key appointments have also been announced as a result of the restructuring. CEO Othman Aljeda said the company will be targeting “aggressive growth” in its logistic businesses. “The global transportation and logistics industry is undergoing a fundamental shift, driven predominantly by the boom in e-commerce, supply chain disruptions, customers’ increasingly discerning expectations and the turbo speed of digitization,” said Aljeda “For Aramex to stay ahead of the curve and remain a competitive, reliable and sustainably growing industry leader, we decided to focus on capturing growth opportunities by decoupling our core services.” As for Aramex Express, which accounts for 70 percent of the revenue, the company plans to open new trade lanes domestically and internationally while scaling up ground operations to cater to growing customer demands. “Our logistics business accounts for 28 percent of our revenues and we intend to aggressively grow our footprint in