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Dubai’s Aramex acquires Ireland freight firm Aquaship

Aramex beat forecasts with an 11 percent rise in its fourth-quarter net profit last month .

February 23, 2011 10:26 by



Logistics company Aramex  on Wednesday said it acquired Ireland-based liner agent and freight forwarder Aquaship Agencies to expand its freight capabilities in Europe.

Dubai-based Aramex did not provide a value for the deal. In a statement to the bourse, the company said its existing customers in Ireland will have immediate access to new ocean freight capabilities through the Aquaship acquisition.

Aramex beat forecasts with an 11 percent rise in its fourth-quarter net profit last month but warned that it faces rising operating costs in the current year.

(Reporting by Dinesh Nair, Editing by Shaheen Pasha)



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