Anham to Resume Work in Kuwait, Iraq

Dubai-based logistics company Anham said the US Government directed it to resume work on the implementation and to ramp up food and non-food distribution and support services in Kuwait and Iraq.

“We are, and have been, fully prepared to work as prime vendor immediately,” said David Braus, Managing Director for Anham. “Complemented by strong and reliable local country affiliates and vendors, our capable and experienced team is ready for this important work. The DLA reviewed our proposal and we are confident we offer the best work, at the best value with the highest certainty of quick and efficient delivery.”

Since the award announcement on April 14, 2010, Anham has made significant progress on the ground in its mobilisation and transition efforts. “We fully expect to meet and exceed all deadlines and milestones set by the company and the US government,” said Braus.

GB Auto Income Jumps

Egypt’s GB Auto (AUTO.CA) reported on Tuesday a leap in first-quarter net income, as sales extended a rebound from a slump in late 2008 and company the expanded into Iraq.

The firm, Egypt’s biggest listed automobile assembler, said net income jumped to 68.7 million Egyptian pounds ($12.3 million) from 7.2 million in the same period last year.

The automotive sector in Egypt was hit in 2009 by the downturn, but demand has started to pick up, helped in part by a government plan to offer affordable taxis to drivers.

“Having delivered an outstanding performance during what is traditionally the slowest period of our year, we look forward to delivering substantial top and bottom-line growth,” GB Auto Chief Executive Officer Raouf Ghabbour said in a statement.

He added that expansion into Iraq in mid-February started to bear fruit, as sales reached 1,341 vehicles in the first quarter.

The firm manufactures, assembles, imports and distributes vehicles for Hyundai, Bajaj (BAJA.BO), Mitsubishi (7211.T), Volvo (F.N) and Mazda Motor Corp (7261.T).

(Reporting by Sherine El Madany; Editing by David Holmes) ($1=5.603 Egyptian Pound)

( Emirates Business )

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