Aramex has established an e-commerce joint venture with Australia Post. The Dubai-based logistics firm owns 60 percent of the Singapore-based venture, and Australia Post has 40 percent. The joint venture has acquired Australia Post’s ‘Star Track International,’ an e-commerce postal and supply chain company, for AUD 62.4m (AED 175.9m).
Australia Post had bought USD 100m stake (4.5 percent) in Aramex in August this year. “The alliance with Aramex will help us grow the Australian e-commerce market, capturing more inbound e-commerce parcel volumes and will provide a platform for outbound growth, particularly for Australian small businesses,” says Ahmad Fahour, Managing Director and Group Chief Executive, Australia Post.
Aramex is an international express, mail delivery, and logistics services company listed on the Dubai Financial Market. The company was founded by Fadi Ghandour and Bill Kingson in 1982. Hussein Hachem serves as the company’s CEO. The company has approximately 13,800 employees in 54 countries and a network comprising 40 independent express companies.
Australia Post offers postal services in Australia and its overseas territories. The state-owned company was founded in 1809 and is based in Melbourne. It operates in three areas: letters and associated services; retail merchandise and agency services; and parcels and logistics.