Almajdouie Logistics has signed an agreement with Sinotrans, outlining expansion plans for its joint venture partnerships in the Middle East.
Almajdouie and Sinotrans have two joint ventures in the region - Sinotrans Almajdouie Middle East (SMME) located in Saudi Arabia and Maxx Logistics, based in Dubai's Jebel Ali Free Zone.
Under the agreement, signed by Almajdouie ceo Baheej Al Biqawi and Yu Jianmin, vice president of Sinotrans, Maxx Logistics has acquired Sinotrans Gulf in the UAE.
The acquisition enables the company to trade in both the Free Zone and the UAE open market.
The agreement will also see Maxx Logistics absorbed into SMME, which, following a rebrand, will expand its presence within the Gulf Cooperation Council (GCC) and the Levant market later this year.
Hu Song, nominated by both parties, has been named general manager of the new SMME Group and all country managers will report to him.