Al Tayyar Travel take stake in Alshamel
Dubai, May 8, 2008
Saudi Arabia’s Al Tayyar Travel Group has taken a 30 per cent stake in Alshamel International, a leading regional travel company.
This new share holding agreement will give both parties opportunities to strengthen their presence in the markets in which they both operate, said a statement.
“The strategic alliance between the two groups is based on a shared vision, which will eventually unify their work processes through working with preferred associates and their affiliated branches all over the territories. By engaging the companies at the business resource, technology and marketing levels, the alliance will allow both companies to drive new growth opportunities and offer added value to their customers,” said the statement.
“The Middle East travel industry is becoming a very competitive market and it is Alshamel International’s intention to lead the field through strategic partnerships; to increase our presence in the region, by expanding our reach into Saudi which will allow us to achieve the primary goal - adding value to our offering and ensuring our clients of world-class services,” said Derin Cameron, chief executive officer, Alshamel International.
Al Tayyar Travel Group is the largest travel organisation in the Middle East, founded in 1979. It ranks number 24 among the top 100 Saudi Companies. The group has more than 220 branches in Suaid Arabia and 10 subsidiaries overseas, in Canada, UAE, Egypt, Sudan, USA, Malaysia, India and Thailand.
Alshamel International Holding Company was established in 1996 in Kuwait and has a capital of KD 3 million ($11 million). - TradeArabia News Service