German DHL, Aramco announce cooperation to establish joint venture
(MENAFN) DHL, a German logistics firm, and Saudi Aramco, a state-owned oil and gas company, announced a collaboration on Monday to establish a joint venture.
Unveiled at a ceremony held in Dammam, Saudi Arabia, the new entity named ASMO (Advanced Supply Management Operations) will serve as a procurement and logistics services center.
Present at the event were ASMO Chair Salem Al Huraish, Wail A. Al Jaafari (Aramco's Executive Vice President of Technical Services), and Oscar de Bok (CEO of DHL Supply Chain).
The joint venture aims to enhance supply chain operations sustainably and efficiently, according to statements made by executives representing both companies.
“ASMO is envisioned to meet the growing demand for more sustainable and efficient supply chain services in Saudi Arabia, while at the same time reflecting the expanding market potential of the region as a global trade gateway for the energy, chemical, and industrial sectors,” a post-ceremony statement noted.
“In a world challenged by supply shortages, logistics disruptions, and rising costs, ASMO is poised to emerge as a regional supply chain hub, covering supply chain services from procurement to logistics, warehousing, and even a B2B e-marketplace for customers,” it further mentioned.
Hendrik Venter, the CEO of DHL Supply Chain for Europe, the Middle East, and Africa, provided a Turkish news agency with an exclusive interview regarding the aims and ambitions of the new venture.
“Three-and-a-half years ago, senior management from Aramco and DHL got together and discussed using Aramco's ecosystem, specifically their technology and technological expertise in the fuel technologies combined with DHL as the global logistics leader,” he declared.
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