Hong Kong: Mergers and acquisitions are set to continue in the expanding logistics services sector said Essa Al-Saleh, ceo and president of global integrated logistics for Agility, speaking at the Airfreight Asia conference in Hong Kong.
'The global outsourced logistics market is set to grow to an estimated $590bn by 2010 from $440bn this year which will mean more opportunities for logistics companies to expand.
'Much of the growth will be organic but there will also be a great deal of activity in mergers and acquisitions as consolidation continues.'
India and China were picked out by Mr Al-Saleh for especially great growth.
'Research shows that India and China combined have 40% of the world's population but account for only 7% of global GDP, so there is scope for significant economic growth as their industry and trade develops. We see many opportunities in Asia in the years ahead,' said Mr Al-Saleh.
Agility employs more than 20,000 people with 450 offices in 100 countries across the globe with more than $4.5bn in annual revenues. [05/09/07]
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