Saudi clothes giant Ajlan & Bros Holding has entered the shipowning business in a joint venture tie-up with the nation’s top shipping line, Bahri.
The memorandum of understanding signed paves the way for the formation of a new joint venture company which will specialise in owning, operating, and managing various models of vessels, Bahri stated in a release, without specifying ship types or numbers. Under the terms of the agreement, Bahri will act as the commercial and technical manager.
Ajlan & Bros is one of the largest private sector conglomerates in the Middle East region, employing over 10,000 people in more than 15 countries and across 70 companies.
Established originally as a textile business in 1979 – a segment where it remains a dominant player in the Middle East region – Ajlan & Bros specialises in the manufacturing and marketing of men’s clothing.
