A Logistics Giant In Kuwait Has Settled With The Us Army Over Claims

Agility Public Warehousing Co., a Kuwaiti logistics giant, has reached a settlement with the US Army regarding a longstanding claim. This means Agility will be able to record KD5.3 million ($17.7 million) as income in its profit and loss statement.

Conflict had arisen over a logistics and management support contract awarded to Agility by the Coalition Provisional Authority in June 2004. There was also a distribution depot contract with the US Defense Logistics Agency in September 2005.

In the settlement, the US Army waived its debt claim against Agility of $81 million (or KD24.5 million), while Agility waived and eliminated its debt claim against the US Army and paid $17.7 million (KD5.3 million).

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