Dubai – Mubasher: Dubai’s Aramex announced on Monday that it has established a joint venture with Australia Post.
The new firm is based in Singapore and will be targeting the global e-commerce market with a particular focus on Asia, according to a bourse filing.
Aramex said that the agreement comes as part of Aramex's international expansion strategy.
Aramex owns a 60% stake in this new joint-venture company, while Australia Post owns the remaining 40%.
The new company had acquired Australia Post's "StarTrack lnternational", which offers global e-commerce postal and supply chain solutions, for $62.4 million Australian dollars.
