Joint Deal

Mar. 03 (LBO) – Sri Lanka’s Hemas Holdings said Friday it added local courier firm ACX International pte Ltd, to their growing portfolio of business. ACX, Sri Lanka’s pioneering courier operation commands around four percent of the island’s annual 1,000-metric tonne or million kilos courier market.

“We roughly estimate the market is worth about two billion rupees a year,” Imtiaz Esufally Head of Hemas Transportation told LBO.

“ACX has its own strong and unique international and domestic express freight infrastructure, which complements our transportation division,” Esufally said.

Sri Lanka’s air express services industry has matured internationally from package and document delivery to trade facilitation and logistics solutions.

“It will be our aim to bring in these new services to the Sri Lankan exporters and Importers in due course,” Harin Gomes, ACX’s general manager said.

Sri Lanka’s courier market is dominated by DHL International (about 40 percent), closely followed by US courier giant Federal Express Corp (Fedex).

-LBO Newsdesk: LBOEmail@vanguardlk.com