Agility Logistics wins $2.8bn deal to supply US army

28 May 2008
Agility Logistics has won a contract worth about $2.8bn to provide food and other logistical support to US troops in Iraq and Kuwait.

The Kuwaiti group unveiled the one-year deal on 28 May. The contract was awarded by the US Defence Logistics Agency and will commence on 3 June.

Agility has won a number of previous contracts to supply US forces since the start of the invasion of Iraq in 2003.

Meanwhile, the company’s share price rose sharply when trading opened on the Kuwaiti stock exchange. Agility’s stock leapt by the maximum 10 per cent permitted when the bourse opened in the wake of the announcement, before falling back slightly. The shares closed at KD1.12 ($4.23) each, marking a 9.8 per cent rise on the day.

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