CEVA Logistics Italy acquires SPEDIMACC
15 April 2008 - 15:36 CET
Transaction consolidates leading market position - Portfolio of services significantly expanded
Milan, 15 April 2008 - CEVA Logistics, one of the leading supply chain companies in the world, decided to reinforce its position as leader in the Italian logistics market and today announced the acquisition of SPEDIMACC, a company that was founded in 1974 and has been a division of TNT Express since 1998. SPEDIMACC is a leading force in the technical courier sector with regard to both its market share and quality offered. This sector requires special installation skills before and/or after transportation.
SPEDIMACC's turnover for 2007 was 17 million euro. An increase of more than 50% is expected in the next few years thanks to the synergy that will result from collaboration with the CEVA Group and to the rise in demand for those "premium content services" that SPEDIMACC is capable of providing.
SPEDIMACC provides an integrated management system in relation to the whole logistics line, from pre-installing products on their premises to installing them at the destination. The articles are put in working order and are rendered operative directly in the "hands" of the end user. The proposed solutions are applied in the electronics, IT, electromedical and banking sectors.
CEVA's performance excellence is unquestionable in the high-tech sector, and this acquisition increases its operating capacity and completes its portfolio of services concerning current and future customers.
Furthermore, CEVA reinforces its presence in Italy by way of logistics centres with a combined space of 30,000 sqm strategically placed around Italy and a dedicated network of approximately 100 specialised vehicles that are occupied with premium content deliveries on a daily basis.
"CEVA is the first multinational company in the logistics sector to make this choice, thus confirming our desire to innovate and our excellent operating standard," commented Gianfranco Sgro, President and Managing Director of CEVA Logistics for the SEMEA area. "SPEDIMACC's credibility and reputation allow us to further reinforce our commitment to helping our customers grow and develop with as much efficiency as possible".
Operation is under approval by Antitrust Authority.
For more information contact:
Sara Faravelli
Marketing & Communication Manager
+39 02 89230270
sara.faravelli@cevalogistics.com
CEVA. Making Business Flow
CEVA Logistics is a leading global supply chain management company. We provide end-to-end design, implementation and operational solutions in contract logistics and freight forwarding to large and medium-sized national and multinational companies. CEVA employs 54,000 people and runs an extensive global network with facilities in over 100 countries. Following the merger with EGL in August 2007, the new combined company had pro forma sales of € 6.3 billion. For more information, please visit http://www.cevalogistics.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT of 1995:
The statements included in this news release, and other statements that are not historical facts, may contain forward-looking statements. In addition to the assumptions specifically mentioned in the above paragraphs, there are a number of other factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the process of combining EGL and CEVA, the actual effects of recent and future regulatory changes and technological developments, globalization, levels of spending in major economies, the economic climate in Asia and the US, levels of marketing and promotional expenditure, actions of competitors and joint venture partners, employee costs, future exchange and interest rates, changes in tax rates, unexpected costs of integrating recently acquired businesses and future business combination or dispositions and other factors detailed in risk factors and elsewhere in CEVA and EGL's most recent Annual Reports, including but not restricted to the EGL Annual Report on Form 10-K. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. EGL and CEVA disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
