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Middle East logistics giant joins global IFLN network

Kuwait: Thursday, July 01 - 2004 @ 12:05

PWC Logistics will gain access to IFLN’s extensive global network, while providing IFLN and its members with the Middle East region’s most comprehensive set of warehousing, distribution and supply chain services.

Initially, the PWC Logistics units in four Middle East countries – Bahrain, Qatar, Jordan and Kuwait – will join IFLN as full members. However, it is expected that many of the other country operations, such as those in Saudi Arabia, Oman, Iraq, Dubai and Iran, will follow in due course.

“PWC Logistics is a regional giant,” said Michel Vanlerberghe, president of IFLN. “Its well-proven capabilities across the Middle East will add greatly to the services that IFLN members can offer their customers.”

Essa Al-Saleh, Managing Director, Corporate Development at PWC Logistics, commented: “This strategic link with the worldwide membership of IFLN complements our Middle East growth strategy. We were attracted by the professionalism and ambition of the organisation, both attributes we respect and share at PWC Logistics.”

Michel Vanlerberghe said: “Through PWC Logistics, IFLN members across Asia/Pacific, Europe, Africa, Middle East and the Americas can hook into a vast array of supply chain solutions including third-party logistics and warehousing, bonded storage and re-export, transportation and cargo logistics, as well as a range of e-commerce and other value added services. This substantially increases IFLN’s capabilities in the Middle East region.”

PWC Logistics is headquartered in Kuwait and is publicly traded with a market capitalisation of approximately US$2billion. In 2003 it posted a net profit of US$132.8million. The company provides leading edge supply chain and e-commerce solutions to the public and private sectors throughout the Middle East. It also has controlling interest in Inspection & Control Services Company (ICS), the world’s leading provider of destination customs, price research and automated decision-support applications.

PWC Logistics’ customers include Nestle, Schlumberger, Equate (a joint venture between Dow Chemical and Petrochemical Industries Company), Philips Electronics, and the governments of Dubai, Kuwait, Argentina, Kazakhstan and the United States of America. Its technology partners include Microsoft, Oracle, Cisco Systems, Savi Technologies and Hewlett-Packard.

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Thursday, July 1- 2004 @ 12:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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