CEVA acquires in strategic move
Published: Jun 08, 2012
CEVA LOGISTICS ACQUISITION STRATEGY
China - CEVA Logistics has fully acquired CEVA Ground in China, allowing the logistics provider to secure its position in the country’s road transport industry.
With the buy-out completed, CEVA is expecting to further establish its position in China's logistics industry and improve the country's transport services. The supply chain firm will look to address the issues and challenges in the Chinese market.
According to a survey commissioned by CEVA and the Global Supply Chain Council, it found that 49% of respondents said cost and reliability of local providers made up the largest intra-China logistical problems, with 64% adding that domestic transport needs the most improvement in the next two years.
CEVA had originally engaged CEVA Ground as a joint venture, owning a 70% share in the company, while its local partner Shanghai JY Company held the remaining 30%. CEVA had since bought the remaining shares from its Chinese partner to gain a complete foothold on the company.
Martin Thaysen, executive vice president of CEVA China said the acquisition helps the company in its business plan for the Chinese market.
"CEVA Ground will continue to exceed our customers' expectations in terms of quality service and cost," he said.
Earlier this week, CEVA also rolled out a multi-user vehicle logistics centre in the Philippines to optimise its supply chain in the country.
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