Alshamel International announces new shareholder |
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Leading Saudi Travel Company acquires 30% of Alshamel
DUBAI, United Arab Emirates, 8 May 2008 - Alshamel InternationalAlshamel International
, the only solely-owned regional travel company in the Middle East, is pleased to announce that Al Tayyar Travel GroupAl Tayyar Travel Group is now a 30% shareholder in Alshamel InternationalAlshamel International. This new share holding agreement will give both parties opportunities to strengthen their presence in the markets in which they both operate.
The strategic alliance between the two groups is based on a shared vision, which will eventually unify their work processes through working with preferred associates and their affiliated branches all over the territories. By engaging the companies at the business resource, technology and marketing levels, the alliance will allow both companies to drive new growth opportunities and offer added value to their customers.
"The Middle East travel industry is becoming a very competitive market and it is Alshamel InternationalAlshamel International's intention to lead the field through strategic partnerships; to increase our presence in the region, by expanding our reach into Saudi which will allow us to achieve the primary goal - adding value to our offering and ensuring our clients of world-class services," said Derin Cameron, Chief Executive Officer, Alshamel InternationalAlshamel International.
Al Tayyar Travel GroupAl Tayyar Travel Group is the largest travel organization in the Middle East, founded in 1979; it ranks number 24 among the top 100 Saudi Companies. The group has more than 220 branches in KSA and 10 subsidiaries overseas, in Canada, UAE, Egypt, Sudan, USA, Malaysia, India and Thailand.
"We look forward to a harmonious future as two of the Middle East's most respected travel brands join forces to set new standards of excellence in regional travel," Cameron added.
Alshamel InternationalAlshamel International Holding Company was established in 1996 in Kuwait and has a capital over KWD 3.000.000 (USD 11.000.000). It is a Kuwaiti company enlisted in Kuwaiti Stock Exchange - Parallel Market.
-Ends-
About Alshamel International
www.alshamel.com
Alshamel InternationalAlshamel International is the parent company of four main divisions: Travel and Tourism ( Corporate and Leisure Travel Management), Alshamel Holidays (B2B/Wholesale), SWITCH (Travel Technology) and Alshamel Agencies (currently representing Delta Air Lines, Jet Airways, United Airlines, bmi, Qatar Airways Holidays, SOTC, swisstours and Radisson SAS Hotels in one or more of its regional offices.)
Alshamel InternationalAlshamel International is the number one travel agency in Kuwait, with a sales volume of around US$ 400 million dollars per annum, and aims to be the leading travel services provider in all markets it operates in.
For further information, please contact:
Nicki Page
Executive Director
Fusion Marketing Management LLC
Tel: +971.4.3912149
Fax: +971.4.3918402
Email: npage@fusion-mgt.com
Philip C Hedges
Corporate Communications Director
Alshamel InternationalAlshamel International
Tel: +965 2976666
Fax: +965 2976682
Email: Philip.hedges@alshamel.com
© Press Release 2008
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