Dubai-based logistics major Aramex said on Thursday it has hired lawyers to defend the company against a $40 million lawsuit related to a fire at its warehouse facilities in Morocco last year.
In a filing to Dubai Financial Market, the listed logistics comapny said one of its customers in Morocco has filed a lawsuit at the Moroccan courts against Aramex claiming a total of $40 million as compensation for the “loss of goods and moral damages in relation to the fire incident”.
The blaze occurred at the warehouse run by a subsidiary of Aramex in Casablanca in September.
In a statement, Aramex said: “Aramex Morocco has appointed external lawyers to represent it and defend the case before the Moroccan court. As of today, no final decision has been made by the court, and Aramex will disclose all related updates in due course.”
In November, Aramex reported a 59 percent slump in net profit for the third quarter of 2020 related partly to property damage caused by Lebanon’s port blast and the warehouse fire in Morocco.
Excluding the incidents, Aramex said net profit would have been down by 13 percent year-on-year to AED99.1 million.
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