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CEVA Launches LTL Services for Cross Border Roadfreight in Asia

2012-04-19 15:34 5703

SINGAPORE, April 19, 2012 /PRNewswire-Asia/ -- CEVA Logistics, a leading global supply chain management company, today announced the launch of its Less than Truck Load (LTL) service as part of CEVA Ground's cross-border Roadfreight offering in Asia Pacific.

The LTL service will enhance CEVA's existing cross-border solution which runs from Singapore to China with an average of 500 trips each month for various multinational customers in the region. CEVA's cross-border service currently provides an integrated and cost effective solution for customers that need to balance speed and timely shipments throughout Asia with Full Truck Load (FTL) services. The new LTL services will leverage CEVA's established FTL regional network to offer a wider range of services for its customers and greater choice between LTL and FTL for faster response and delivery times. CEVA Ground is already recognized as a market leader for domestic and cross-border ground transportation needs in China and this new offering will build on the knowledge and capabilities gained in this territory.

The LTL service will launch with three initial cross-border lanes: from Shenzhen, China to Penang, Malaysia; Ho Chi Minh, Vietnam to Shenzhen, China; and Singapore to Kuala Lumpur, Malaysia. These lanes are heavily travelled routes and critical links in companies' supply chains.

Norm Mummery, Senior Vice President, Regional Operations, for Asia Pacific said: "We are very pleased with the success we have had since launching our cross-border Roadfreight solution last year. Our integrated Roadfreight services are now further enhanced to meet our customers' varying needs with the addition of the LTL offering. Intra Asia freight movements continue to be a rising trend in line with the economic growth in the region (Note 1) and CEVA's local expertise enables us to deliver greater value to our customers, offering reliability, speed, the highest security standards and world-class Freight Management systems and processes."

CEVA intends to grow the number of LTL lanes over the next two years, including Shenzhen, China to Bangkok, Thailand, and Kuala Lumpur to Bangkok, to augment its already well connected and comprehensive regional road network across Asia. 

Note 1: Economist Intelligence Unit (EIU) 2012 - Asia Competition Barometer, Transport and Logistics

CEVA - Making business flow

CEVA Logistics, one of the world's leading, non-asset based supply chain 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 2011 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:

Wen Dee Foo
Director, Marketing and Communications, Asia Pacific
Tel: +65-6507-2650
Email: wendee.foo@cevalogistics.com

Source: CEVA Logistics
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