21 December 2014
Abu Dhabi - Al Wathba Services, the vehicle management businessheadquartered in Abu Dhabi, today announces that it has changed its name to Massar with immediate effect. The change of name is being accompanied with a fresh new brand.
Massar is a long established, commercially successful and market leading business which commenced operations in 1999, managing the vehicles of Abu Dhabi Water & Electricity Authority (ADWEA). Since then, it has grown exponentially, operating throughout the UAE, with annual sales of almost AED500 million, more than 400 customers and more than 15,000 vehicles under leasing and fleet management. Massar intends to become the leading provider of vehicle mobility solutions in the UAE and to expand its regional footprint to other GCC countries.
Massar also operates a B2B and B2C vehicle rental business under the Payless franchise of Avis Budget Group. Most recently, Massar has developed a Supply Chain Management solutions division, which effectively takes control of customers' entire supply chain. Services include driver hiring, routing and scheduling, dispatching, fleet sizing, delivery management and documentation control.
KhalafAldaheri, Chairman of Massar, commented: "This is a highly significant day in the history of our company. The timing of our rebrand is even more appropriate, with the UAE having just celebrated National Day. The country has gone from strength to strength driving economic development and prosperity through innovation.
"Our company has played its part on this journey, and boasts a rich heritage of serving businesses in the UAE for more than fifteen years. We believe that as our customers evolve we need to keep up with their needs and objectives. We have grown our product offering to suit a more discerning customer, and our new brand embodies this."
Mr. Paul Greenwood, Chief Executive Officer of Massar, commented: "We believe this is the ideal time to refresh our brand and commence the next stage of the company's growth. Massar means "path" in Arabic, which resonates with the fundamentals of our business, managing our customers' mobile assets and setting them on the right path. Everything we do is geared towards keepingcargo, cars and companies moving forward through our commitment to innovation and excellence."
Massar is in the business of creating innovative mobility solutions in fleet management, car rental and supply chain management. We are committed to keeping cargo, cars and companies moving forward. We are all about driving innovation across each of our three divisions. The Fleet Solutions division is the leading provider of innovative fleet management solutions in the UAE. The Vehicle Rental division is the licensed operator of the Payless Car Rental Brand for the UAE territory. The Supply Chain Solutions division works with clients to create scalable, flexible and adaptable supply chain solutions that can respond quickly to the changing demands of the marketplace.
Massar, formerly Al Wathba Company for Central Services, was incorporated on 1st March 1998 as a public joint stock company following Ministerial Resolution No. (20). We commenced our operations in 1999 by providing exclusive fleet and HVAC related services to ADWEA.
On 19 November 2005, Abu Dhabi Power Corporation, a wholly owned subsidiary of ADWEA, and owner of 100% of the Company, sold 51% of its shares to InvestAD. Subsequently, in 2006, the remaining 49% was sold to TAQA, a 51% owned subsidiary of ADWEA.
For further information, please contact:
Archie Berens Bell Pottinger Middle East: +971 55 559 7407 / ABerens@bellpottinger.com
Megan Ballantyne, Bell Pottinger Middle East +971 55 559 7392 / firstname.lastname@example.org
Rima Ali Bell Pottinger Middle East: +97155559 7414 / RAli@bellpottinger.com
© Press Release 2014