Pictured: CMA CGM reefer containers. Image courtesy of CMA CGM.
CMA CGM has announced that they have reached an agreement to acquire an equity stake of almost 25% of CEVA Logistics AG (CEVA), a global leader in logistics.
CMA CGM is aiming to grow its presence in the logistics sector — CEVA is in the top five in contract logistics providers, seeing revenues of over 7 billion dollars in 2017.
CEVA provides end-to-end supply chain solutions and currently manages more than 9 million square miles of warehouses across 750 worldwide sites.
It is also currently ranked as 10th in the world in freight forwarding.
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The two companies are looking to explore potential joint commercial offerings, once the transaction has been officially closed with approval from regulatory authorities.
Chairman and CEO of CMA CGM Rodolphe Saadé said: “With this proposed investment in CEVA, CMA CGM makes a significant move, in line with its development strategy.
“CEVA is a major player in the logistics business, which is closely related to the shipping industry.
“Together, the two companies will also explore possible cooperations allowing us to propose an ever more differentiated and qualitative offering while integrating services beyond maritime transport.”
