BALtrans acquires BALtrans (India); opens first office in Oman
BALtrans Holdings has entered into an agreement to acquire the remaining 26% of the issued and fully paid share capital of BALtrans Logistics (India); and recently opened its first office in Oman, the Middle East.Incorporated in December 2004, BALtrans India provides freight forwarding and logistics support services.Pursuant to the agreement, BALtrans will acquire the 26% interest from Kapil Dev Dutta. On completion of the transaction, BALtrans India will become a wholly owned subsidiary of the company.According to BALtrans executive chairman Anthony Lau, India is a key emerging market with long-term potential, making it strategically important for BALtrans to have full control of the India platform in order to execute its group strategy more effectively.BALtrans also opened a new office in Oman, the Middle East as part of its ongoing efforts to penetrate the Europe, Middle East & and Africa market and expand its global network.The move also signifies a milestone in the partnership between BALtrans and Premier Logistics Group (PLG).
BALtrans chief executive Henrik Von Sydow said that the Oman office will aid the company’s penetration of the Middle East market, which is becoming increasingly attractive due to the region’s rapid economic growth and strengthening of business ties with the rest of the world.