28/09/2017 07:19 AST
Bahri, a global leader in transportation and logistics, and Bolloré Group, a global player in international freight forwarding and logistics, celebrated yesterday the inauguration of BahriBolloré Logistics, the companies' joint venture.
Bahri owns a 60 percent stake in the joint venture, while Bolloré owns the remaining 40 percent.
Headquartered in Riyadh, Saudi Arabia, BahriBolloré Logistics will provide end-to-end logistics and supply chain management solutions to local and international firms operating in Saudi Arabia.
To mark the occasion, BahriBolloré Logistics hosted a special ceremony at The Ritz-Carlton, Riyadh, in the presence of Abdulrahman M. Al-Mofadhi, chairman of Bahri, members of the board of directors, in addition to Cyrille Bolloré, chairman of Bolloré Transport & Logistics; Éric Giraud-Telme, deputy head of mission at the French Embassy in Saudi Arabia, and other senior representatives from both the companies, the diplomatic and military corps, among others.
Al-Mofadhi said: "The success of this joint venture signals the importance of ?collaboration in creating a wider positive impact on the sector. ?It is only through meaningful partnerships and a shared vision that ?the transportation and logistics sector can break new ground and ?explore new horizons of growth.
"Bahri is extremely proud to be playing an active role in ?strengthening the Kingdom's position as a unique global logistics ?gateway. ?Through this joint venture and other initiatives, we remain ?dedicated to the future growth and development of the ?transportation and logistics industry in the Kingdom," he added.
"The inauguration of BahriBolloré Logistics will enable us to ?play a significant role in driving an important objective of ?Saudi ?Arabia's Vision 2030, to further raise the kingdom's ranking in the ?global logistics market," said Ali Al-Harbi, acting CEO of Bahri?.
"The joint venture will enable us to deliver high-quality logistics and supply chain management solutions as we combine Bolloré's global footprint with our industry-leading capabilities and deep understanding of the local market to meet the growing demand for these services in the regional market. In doing so, we are also proud to be playing an integral role in further promoting Saudi Arabia's credentials as a prominent logistics gateway," added Al-Harbi.
Bolloré said: "We are particularly honoured to conclude this strategic partnership with Bahri, one of the most recognised logistics players in Saudi Arabia. This development at the heart of a high growth potential region is an important milestone of our global network integration."
"This alliance is following the development dynamic of Bolloré Logistics in the Middle East region and at the crossroads of Asia, Africa and Europe. Our joint venture with Bahri enable us to promote our expertise of our key sectors, especially in Aerospace, Defense, Oil & Gas, along with Fashion and Healthcare," added Thierry Ehrenbogen, CEO of Bolloré Logistics.
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