CEVA begins new era under CMA CGM with Q1 drop in air volume

Following yesterday’s annual general meeting, CEVA reported its first-quarter results today, showing a 6.9% drop on air cargo volumes, compared to the previous first quarter, plus several corporate structure changes as French seafreight firm CMA CGM begins its governance over the Swiss 3PL. For Q1 of 2019, CEVA said the dip in the air segment […]
  • Randy Woods
  • April 30, 2019

While completing CMA CGM merger, CEVA extends partnership with Brazilian automaker

This week, Swiss 3PL CEVA Logistics inked a new contract with longtime partner, Brazil-based Fiat Chrysler Automotive (FCA), to manage the company’s aftermarket operations at its Betim facility until 2022. At the same time, CEVA completed its deal with French maritime shipping giant, CMA CGM Group, giving the latter nearly 98% control of the logistics […]
  • Nina Chamlou
  • April 12, 2019

CEVA’s preliminary results for 2018 point to future growth, reduced debt

Calling 2018 a year rocked by “structural changes” and activity to deleverage debt, CEVA Logistics AG released preliminary results on Monday for the year ended Dec. 31, 2018, suggesting that revenues grew during the year, albeit not quite as strongly as the revenues from the previous year. CEVA’s full 2018 results are not expected to […]
  • Randy Woods
  • February 5, 2019

CEVA board rejects takeover bid from DSV as ‘inadequate’

Yesterday, after Danish logistics firm DSV made an unsolicited, non-binding acquisition bid to CEVA Logistics AG, the CEVA board of directors unanimously rejected the offer of roughly US$28 per share in cash, saying that the bid – totaling about $1.5 billion – was “not in the best interest of the company and its shareholders.” The […]
  • Randy Woods
  • October 12, 2018