Austrian Post has announced an expansion of its stake in Turkish parcel provider Aras Kargo to 80% from the 25% it acquired in 2013.
Georg Pölzl, chief executive officer of Austrian Post, explained, “I am pleased that the increase in our shareholding in Aras Kargo, which was agreed upon many years ago, has finally taken place. Turkey is an attractive, dynamic and strongly growing market. We continue to believe in the country and also want to invest in it in the future. The increase in our stake in Aras Kargo represents the resolute implementation of our strategy of aiming to grow in selected markets.”
Peter Umundum, member of the management board of Austrian Post with responsibility for the parcel and logistics division, said, “We plan annual investments in the three-digit million Turkish lira range. Thanks to the performance of the management, employees and certainly the Aras family, Aras Kargo has succeeded in positioning itself as one of Turkey’s leading parcel services providers.”