Barloworld buys Swift Freight for $70m
United Arab Emirates: Wednesday, March 19 - 2008 at 06:56
South Africa's Barloworld Logistics has announced that it has bought Dubai-based Swift Freight International for $70m, reported Gulf News. Barloworld CEO Paul Stuiver said his company was attracted to Swift's 46 branches in 21 countries and is buying the Dubai firm along with its stakes in other companies. He said the acquisition gives the firm a strong presence in countries such as India, China and the UAE, and will increase the company's revenues by 75%.
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Jeff Florian, Senior ReporterWednesday, March 19 - 2008 at 06:56 UAE local time (GMT+4)
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