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            july 24, 2019

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While merging with CMA CGM, CEVA renews Brazilian automaker deal


Swiss 3PL CEVA Logistics has 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, reports New York's Air Cargo World.
At the same time, CEVA completed its deal with French maritime shipping giant, CMA CGM Group, giving the latter nearly 98 per cent control of the logistics company.
CEVA Logistics said it plans to employ a team of more than 450 people to manage FCA's outbound transportation and warehousing, which encompasses its business in southern Brazil.
CEVA Brazil development chief Daniel Cortazzo said the renewal "reinforces our presence in aftermarket solutions" within the automotive sector.
The multinational automaker FCA encompasses brands including Chrysler, Dodge, Fiat and Jeep, and comprises about 18 per cent of the total national vehicles market in Brazil.
CEVA has been increasing its foothold in the Brazilian market via its logistics hub in Sao Paulo. In October, it expanded its partnership with a Brazil-based retailer to manage its warehousing and distribution.
Regarding the CMA CGM takeover, the deal, which was finalised on April 10, will create an operational centre in Marseilles to consolidate the management teams of the two entities and "accelerate CEVA Logistics' return to profit," read a CMA CGM statement.
The merger occurred after a public tender offer amounting to US$1.65 billion was made by CMA CGM on February 12.

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