Kuehne + Nagel has taken over 70 percent of the shares of Universal Freight Services Co. LLC from the Khimji Ramdas Group in the Sultanate of Oman. This strategic transaction will enable Kuehne + Nagel to make its foray into the Sultanate as majority shareholder of a joint venture, according to the company.
Since 1999, Kuehne + Nagel has been represented in Oman by the Khimji Ramdas Group as its sales agent. The new joint venture company operates under the global Kuehne + Nagel brand as Kuehne + Nagel LLC, and is headquartered in Muscat. Currently it employs 16 people. It will provide local and international customers with integrated, IT based logistics solutions. In line with the corporate strategy, Kuehne + Nagel will focus on customised products for special industries.
The Khimji Ramdas Group, a Muscat based family owned company established in 1870, runs 30 business divisions with interests
ranging from agency representations of world’s leading brands to trading and manufacturing. Now owned by the fifth generation of Khimjis, it employs around 3,000 people and is strongly linked to the development and expansion of the economic activity of Oman.