The Public Warehousing Company (PWC), Kuwait, which has a market capitalisation of about KD100 million ($324) and a broad shareholding base, is the region's leading private sector provider of warehousing and storage solutions with more than 5 million sq m of area that can be leased.
The shareholding base includes prominent private and public sector investors such as the National Real Estate Company (owners of the Free Trade Zone Concession) and the Public Institute for Social Security.
The company, established in 1979 to provide high-quality warehousing and supply chain services to local, regional and multinational customers, was privatised in 1997 by the Kuwait Investment Authority.
In recent developments, the company signed a contract with Al Sulaibikhat & Al Doha Co-operative Society to organise and manage their warehousing and distribution needs.
"This contract highlights PWC's ability to integrate with the co-operative's logistics management systems and provide a more cost-effective solution to the warehousing and distribution needs of the co-operative using the latest in warehousing knowhow and resources," PWC said in a statement.
PWC said the contract would enable the co-op to increase efficiency by eliminating defective and damaged goods, monitoring the flow of stock in and out and taking advantage of the computerised inventory reports provided by PWC to better manage the warehouse.
In another new relationship, PWC and Office One Superstore, a division of Essa Hussain Al Yousifi Est, agreed to a long-term warehousing, distribution and logistics alliance. The agreement will allow Office 1 to launch its ambitious eCommerce initiative and deliver in the future a real cost-saving benefit to the commercial, education and government sectors. Office 1 is ranked as one of the fastest growing chains of one-point shop stores for all office and school needs.
Another agreement involved a long-term warehousing and logistic partnership with Dakheel Al Jassar Group, one of the largest suppliers of electrical components for the building industry.
The group is concentrating on its new plant facilities in Subhan and the agreement will allow it to focus on its core business.
Qurain Co-operative also signed a contract with PWC, which will allow it to convert under-utilised existing storage space into revenue-generating projects and provide value-added services to its customers.
PWC's facilities in Kuwait include the following areas: Sulaibiya, Free Trade Zone, Doha, Jahra, Sabhan (Airport), Dhageej (Airport), Amghara and Mina Abdulla, which is an ideal location for businesses that will benefit from proximity to the country's primary oil-related and petrochemical facilities. In addition to leasing, the company designs, develops, operates and finances custom-designed warehousing and storage solutions for its customers.
Other PWC services include trade finance, third-party logistics and supply chain services, freight forwarding, transportation and delivery and provision of industrial plots as well as customs management and IT services.
