Newcomer to the list, Tareq Sultan is the chairman and managing director of the Agility logistics company. Formerly known as Public Warehousing Company (PWC), Agility was established in Kuwait in May 1979. With more than 20,000 employees, 450 offices in 100 countries worldwide Agility has an annual revenue of US$4.5bn. Its core activities are in warehousing, transportation and freight management services.
Agility’s customers span a range of industries from technology and retail to consumer products and oil and gas. In addition, Agility has three specialised business units; Project Logistics; Fairs & Events Logistics and Defence & Government Services. The logistics company, however, is trying to reduce its reliance on US military contracts and is instead looking to expand abroad. Since it started working under a subsistence prime vendor (SPV) contract in 2003 the company has been providing food to those serving in Iraq and Kuwait, but unfortunately, more than 30 employees have been killed and 200 injured.
Agility, the Middle East’s largest logistics company by market value has made a number of significant acquisitions this year. In April it agreed to buy Australian freight forwarder LEP International Pty and New Zealand’s LEP International. In a bid to seek expansion in China, it bought Runtang International Transport. The company also announced an agreement to purchase WTS of Houston Inc (WTS) and its sister company, World Transportation Services Inc (Global Express Line). In May, it completed the acquisition of Leader Group, a company specialising in freight forwarding and shipping agency services, based in Alexandria, Egypt.
Most recently the company confirmed it had secured a one-year US$1.35bn loan, to finance further acquisitions. Sultan said in June Agility was expanding into the Middle East, Africa and Eastern Europe. He identified the Gulf, Egypt, Algeria and Morocco as interesting markets.
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