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AJEX signs Strategic Cooperation Agreement with RedBox

AJEX Logistics Services signed a strategic cooperation agreement with "RedBox" for smart parcel stations in Riyadh.

The press release stated that according to this partnership, "AJEX" allows its customers to receive and deliver parcels through the global network of RedBox.

CEO of AJEX, Ajlan Bin Mohammad Al Ajlan, stated that the cooperation with "RedBox" is a major investment step, which will contribute to the diversification of parcel delivery services and various postal shipments for "AJEX" customers.

And he indicated that this agreement represents a quantum leap in the Saudi logistics services sector, whose value is estimated at about SR91 billion, and is growing at a rate of 7.35% annually, as modern technologies are relied upon to achieve the security and safety of postal shipments and parcels, and their speed of movement and arrival to its customers.

Al Ajlan added that AJEX provides a range of logistics services through its strategic partnership with the Chinese logistics giant SF Express, which owns 50% of the Chinese market and operates an airport that transports 2.5 million tons and one million passengers by 2025.

He continued, in addition to 100 aircraft by the first quarter of this year 2022, also acquires a third of the shipments transported from China to the Middle East region, as well as international and domestic express delivery services, freight forwarding, and logistics services provided by third parties and supply chain financing.

Al Ajlan stressed that the strategic partnership with the giant Chinese company will push towards creating and developing the Kingdom's infrastructure, by building logistics centers and establishing good distribution centers, as an extension of the chain of hubs spread in more than 29 countries in the region: with investments exceeding SR3 billion in the Kingdom. This can naturally connect the Kingdom to markets in which more than 6 billion people live.

For his part, Thamer Al-Tawyan, CEO of RedBox, the leading provider of smart parcel stations in the Kingdom, welcomed the cooperation with AJEX, pointing out that this cooperation allows AJEX customers to use the RedBox smart lockers network spread in different regions and cities in the Kingdom.

Al-Tawyan pointed out that RedBox provides its smart services for "last-mile" solutions to its partners from local and international logistics services companies, as well as its partners in the e-commerce sector, whose revenues amount to SR28 billion, as the Kingdom ranks 25th among the largest e-commerce markets in the world with a number of users up to 28.4 million and is expected to reach 34.5 million by 2025.