Kanoo Group adds storage systems in portfolio

Gulf company Kanoo Group has bought Dubai-based storage systems specialist Stor-mat Systems to add to its portfolio services within the logistics industry, the company said in a press statement.

“There is a strong demand for material handling in the region and we have taken over Stor-mat Systems to satisfy this demand. The global potential of the material handling services sector is growing fast and the acquisition promises attractive returns as there is a strong potential for expansion in the region,” Mishal Kanoo, The Kanoo Group’s Deputy Chairman commented about the acquisition.

Stor-mat Systems commenced its operations in 1993 and is managed by a British management team headed by Brian Burns and backed up by a group of reputable and strategic agencies such as Eonmetall, Kardex Mlog, Ettax, Stow International and GS Engineering (formerly known as GS Scaffalature), some of worldwide leading manufacturer of world class metalwork and suppliers of high-end storage, each with decades of industrial experience in storage and material handling services.

The Kanoo Group is involved in various industries including shipping, travel and holidays, machinery, oil and gas, engineering, power and industrial projects, industrial chemicals, freight services, exhibition services, commercial lease and IT solutions, according to its website.