Logistics business in Middle East expected to grow by nearly 20% annually |
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Matthew Derrick - Momentum General Manager
Momentum LogisticsMomentum Logistics
shares vision with suppliers, partners The anticipated growth rate of the Middle East's logistics sector is between 17 and 19 percent. Matthew Derrick, General Manager of Momentum LogisticsMomentum Logistics
, spoke of the tremendous potential inherent in the Middle Eastern logistics market at an event celebrating the company's launch, held in the Falcon Ballroom at the Le Meridien hotel in Dubai on 5 November 2008.Momentum LogisticsMomentum Logistics
is a subsidiary of international port management company, GulftainerGulftainer, and offers a complete suite of top-quality 3PL and supply chain management services, including freight forwarding, transportation, storage and container repair services to clients looking to outsource their logistics requirements. These provide a natural extension of the services offered by Momentum's well-known parent company, GulftainerGulftainer.Speaking at the event, Mr Derrick, said that the UAE-based company intends to become a global player, and that they have already branched out into surrounding countries, including Turkey and Pakistan.
"Momentum LogisticsMomentum Logistics
is a UAE company, and we intend to follow other national champions, such as Emaar, Emirates and Etisalat. Logistics business in the UAE is expected to grow tremendously over the next few years, reflecting the rapid growth in the Middle East region, and we are firmly committed to being a part of this growth," said Mr Derrick. "Momentum will not only be focusing on national business, however, but will also be looking to take our business into the region and beyond. In fact, we are already part of two joint ventures - one in Turkey and one in Pakistan - and we are also looking into business opportunities in Iraq," he continued.
"We believe that the combination of capability, experience, drive and determination to successfully compete in a market with large global players, and we are confident that our local knowledge and understanding, together with our understanding of international service standards and expectations will allow us to deliver exceptional service and to take the level of service and communication to the next level," Mr Derrick added.
Momentum's offices in the Sharjah Inland Container Depot (SICD) form the base of operations for its first freight forwarding office, which, along with its transportation division, is ready to commence operations. According to Mr Derrick, this will be the first of three offices, with another scheduled to open in Dubai in early 2009, and the third in Abu Dhabi later in 2009.
Once Momentum has established itself within the UAE, the company plans to continue its expansion, throughout the region and internationally, and become a global provider of choice for 3PL and supply chain management services, with a total projected investment of AED 1 billion over the next seven years.
Momentum also plans to develop a one-of-a-kind logistics city from which customers will be able to manage their entire supply chain. International Logistics City (ILC) is a 700,000 square metre development located in Sharjah that will become home to Momentum's first 25,000 square metre state-of-the-art distribution centre.
- Ends -
About Momentum
Offering a complete suite of 3rd Party Logistics (3PL) and supply chain management solutions, MOMENTUM provides a natural extension of the services offered by its well-established parent and port management company, GulftainerGulftainer
Company Ltd. MOMENTUM has the capability, experience and drive to successfully compete in a market with large global players, with their local knowledge and understanding, coupled with their understanding of international service standards and expectations, providing their competitive advantage.For further information, please contact:
Robyn Grimsley
SAHARA Communications
Tel: +971 4 329 8996
Fax: +971 4 329 8995
Mob: +971 50 848 5487
Email: robyn@saharagcc.com
Web Site: www.saharagcc.com
© Press Release 2008
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