مبرووك
March 18, 2006
PWC Logistics and AL-Ghaith Holding to provide automotive logistics services in the GCC
Dubai, 18 March 2006– PWC Logistics, a leading global provider of integrated supply chain solutions, and Al-Ghaith Holding PJSC recently announced the signing of a joint venture agreement to provide automotive logistics services.
This newly formed company, Automotive Logistics Middle East (ALME), will be headquartered in Dubai’s Jebel Ali Free Zone and managed by PWC Logistics. Due for completion in 2006, the company will provide a one-stop-shop for the hundreds of thousands of motor vehicles that currently arrive in the Emirates each year.
ALME will focus on providing automobile pre-delivery and inspection and replacement parts logistics services to vehicle manufacturers, original equipment agents and used vehicle dealers throughout the GCC. ALME will also offer logistics solutions tailored to meet the specific requirements of motor vehicle exhibition and event organizers. ALME is Dubai’s first third-party logistics solution provider to offer these types of services.
Essa Al-Saleh, PWC Logistics Managing Director, Corporate Development, commented: “We’re very excited about this venture. The automotive sector in the GCC continues to experience double-digit growth and we are ideally positioned to provide services which both reduce vehicle delivery times and lower costs for both suppliers and dealers.”
Operations will begin using a sheltered storage and workshop facility, with a capacity of over 500 vehicles, located near the vehicle off-loading berth at the Jebel Ali Free Zone.
PWC Logistics engaged Gulf Merchant Group LLP as an Advisor on this transaction.
About Al-Ghaith Holding
Al-Ghaith Holding is one of the leading industrial companies in the United Arab Emirates based out of Abu Dhabi. Amongst their various investments is the exclusive agency for Aston Martin in the Middle East. The decision for the JV represents a further step for the group to strengthen their position in the automotive sector.
About PWC Logistics
PWC Logistics is a global provider of integrated supply chain solutions, with more than 450 offices located in over one-hundred countries spread across six continents. Through its network of warehousing facilities and transportation and freight management services, PWC provides its customers with flexible solutions tailored to meet their business needs. PWC’s customers span a wide range of industries, including apparel and footwear; automotive; consumer and industrial electronics; consumer packaged goods; engineering and construction; events and entertainment; food and grocery; government and military; healthcare and pharmaceutical; and oil and petrochemicals.
PWC Logistics is a publicly traded company listed on the Kuwait Stock Exchange and Dubai Financial Market, ticker symbol WARE, and included in the Dow Jones DIFC Arabia Titans 50 Index. For more information about PWC Logistics, please visit
www.pwclogistics.com.
About Gulf Merchant Group
Gulf Merchant Group LLP (GMG) is a UK-based corporate finance and asset management company regulated by the Financial Services Authority (FSA) offering a number of flexible and innovative products to institutional investors, corporations and high net-worth individuals through its services which include corporate finance, capital markets, fund management and private client services.
Due to the great demand for solid regional investment banking in the region, GMG hopes to service its customers through a regional hub in Dubai. The key factors driving this demand are the deregulation of key sectors in the regional economies, the much needed broadening of private sector ownership and the in-flow of Foreign Direct Investments (FDI).
GMG is headed by a multi-cultural team of experts who have been handpicked and represent a wealth of know-how in the financial industry. Each and every senior executive provides GMG with individual expertise and experience, which will make GMG one of the strongest financial institutions in the region.
GMG will offer regional clients the ability to diversify and expand their investment portfolios as well as providing a gateway for Western investors to invest in the GCC according to the international rules and regulations to which they are accustomed. For more information about GMG, please visit
www.gulfmerchantgroup.com.
