To explore opportunities for future collaboration on bonded logistics services
SHANGHAI, July 4, 2012 /PRNewswire-Asia/ -- CEVA Logistics, one of the world's leading supply chain management companies, today announced that it has signed a memorandum of strategic cooperation with Shanghai's Shine-Link International Logistics Co., Ltd. (SLC) in China. Under this memorandum, CEVA and SLC will explore opportunities of future cooperation on customs clearance and bonded logistics services in China.
CEVA announced the buyout of its joint venture CEVA Ground in China in June and is further developing its offering to better support the logistics needs of its customers. The integration of CEVA Ground's network and its CEVA Matrix Transport Management System with CEVA's global business model and IT systems are planned to be completed in the coming weeks. The future cooperation with SLC on bonded logistics strengthens CEVA's platform for broadening its overall service offering in China.
Founded in 2001, SLC is owned by Shanghai Wai Gao Qiao Free Trade Zone United Development Co., Ltd. and Shanghai Yi Dian Holding (Group) Company. As a supplier of professional import and export service and bonded logistics, SLC has become one the biggest logistics service providers in Shanghai.
"To collaborate with outstanding local partners is one of our key strategies in the China market," said Martin Thaysen, Executive Vice President of CEVA in China. "This partnership will allow us to explore improving CEVA's service level for customs clearance and bonded logistics in China. This is in line with our objective to continually enhance our supply chain offerings and services to better meet the needs of our customers in China."
"We are pleased to sign the memorandum of strategic cooperation with CEVA," said Xu Feng, the President of SLC, "We will explore opportunities to cooperate with CEVA, combining their global best practices with our local expertise to make this a successful and mutually beneficial collaboration."
CEVA - Making business flow
CEVA Logistics, one of the world's leading non-asset based supply chain management companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 51,000 employees are dedicated to delivering effective and robust supply chain solutions across a variety of sectors and CEVA applies its operational expertise to provide best-in-class services across its integrated network, with a presence in over 170 countries. For the year ending 31 December 2011, the Group reported revenues of euro6.9 billion. For more information, please visit www.cevalogistics.com.
SAFE HARBOR STATEMENT:
This news release may contain forward-looking statements. These statements include, but are not limited to, discussions regarding industry outlook, the Company's expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2012 and the other non-historical statements. These statements can be identified by the use of words such as "believes" "anticipates," "expects," "intends," "plans," "continues," "estimates," "predicts," "projects," "forecasts," and similar expressions. All forward-looking statements are based on management's current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company's global operations, fluctuations and increases in fuel prices, the Company's substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively. 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 annual and quarterly reports, available on the Company's website, which investors are strongly encouraged to review. 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. CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
For more information contact:
Anita Wei
+86-21-2310-7688
Anita.wei@cevalogsitics.com
