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Mercantile Merchant Bank (MMBL) subsidiary Mountain Hawk
Express and Hayleys last week concluded a strategic
alliance to form one of the strongest international
business logistics clusters to develop the express
transportation business, in Sri Lanka.
This
alliance is based on the Hayleys Transportation
Division, with its Shipping, Aviation, Freight
Management, Distribution Centre, Container Depot and
Ship Owning interests, joining hands with MMBL
subsidiary, Mountain Hawk Express, the licensee for
FedEx since 1987.
FedEx, a
fortune 500 company is the world's largest express
transportation company and has an annual turnover of US
Dollars 25 Billion and was ranked the 8th most admired
company in the world by Fortune in 2005.
The synergies acquired through this alliance will set
the foundation for the creation of a business logistics
powerhouse aimed at helping Sri Lankan exporters to meet
the new challenges faced by an increasingly competitive
international market place.
Commenting
on the alliance, Hayleys Chairman and CEO Rajan Yatawara,
said that he was delighted at the agreement reached and
said that the Group, with its deep knowledge and
understanding of exporters through decades of
involvement with them, will be able to significantly
help develop the Federal Express brand and offerings in
Sri Lanka.
MMBL Group and Mountain Hawk Express Chairperson Mrs
Neiliya Perera said that she too was very pleased with
the agreement reached and was confident that the
synergistic effect of the coming together of the two
organizations will result in the local exporter gaining
an additional comparative advantage.
The Hayleys
Group of companies was established in 1878 and is the
largest public-quoted export company in Sri Lanka with
manufacturing and trading interests world wide. It also
has a large subsidiary network in Sri Lanka, and its
transportation division, has a customer base of over
3,000 exporters and importers. This new strategic
alliance will enhance the transportation portfolio of
Hayleys, and through the many synergies, would add value
to the FedEx services in Sri Lanka.
Mercantile
Merchant Bank Ltd (MMBL) is a privately held Sri
Lankan-US joint venture engaged in private equity and
investment banking activities both in Sri Lanka and
abroad. Through a strong network of partnerships both
internationally and locally, with blue-chip companies,
global brands and high net-worth individuals, MMBL has
built a diverse investment portfolio that spans
financial services, information technology, business
logistics, services to the petroleum industry, trading
and property development. |
