Kuwait City, Kuwait, October 13, 2004 - PWC Logistics, the leading provider of comprehensive supply chain solutions in the Middle East, today announced the purchase of a warehouse facility from the Spinneys group, in Beirut, Lebanon. This acquisition extends the reach of PWC's supply network into Lebanon and its ports on the Mediterranean Sea.
PWC plans to upgrade the facility and use it to provide third-party logistics (3PL) services. Upgrades will include installing the EXceed WMS warehouse management system to improve inventory tracking and visibility and completing the installation of very-narrow-aisle (VNA) racking to maximize the capacity of the facility.
Essa Al-Saleh, PWC Logistics' Managing Director - Corporate Development, commented, "Lebanon is a vibrant and growing market with access to the Mediterranean." He continued, "This warehouse is a natural addition to our existing network of facilities and brings us another step closer to achieving our vision of a seamless supply network covering the entire Middle East."
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About PWC Logistics
PWC Logistics is the leading provider of supply chain solutions to companies and governmental organizations throughout the Middle East. Through its integrated network of warehouse facilities and transportation options, PWC provides its customers with flexible logistics solutions tailored to meet their business needs. PWC is a publicly traded company listed on the Kuwaiti Stock Exchange, ticker symbol WARE.KW, with a market capitalization value of approximately KWD900 million (US$3.1 billion). For more information about PWC Logistics, please visit www.pwclogistics.com.
CONTACT:
James Reheiser
PWC Logistics
Tel: (+965) 809 222, Ext. 2205
Fax: (+965) 467 1013
www.pwclogistics.com
© Press Release 2004
