KUEHNE & NAGEL EXTENDS OWNERSHIP STAKE IN EGYPT VENTURE
Kuehne & Nagel said it has purchased the remaining 50-percent interest in Orient Transport Co. Ltd. Cairo, previously held by International Associated Cargo Carrier SAE.
The wholly owned venture now operates under the name Kuehne & Nagel Ltd.
Kuehne & Nagel entered into the joint venture in 1984 with International Associated Cargo Carrier, a Cairo-based shipping and forwarding company.
Swiss-based Kuehne & Nagel operates from three locations with 80 employees in Egypt, providing sea, air and project forwarding, overland haulage, fairs and exhibition logistics, customs clearance and transport insurance. The company is looking to expand its contract logistics business there.