Mike King, Special Correspondent | Jun 08, 2012 9:06AM EDT
CEVA Logistics has further committed to operating truck services in China, completing the buyout of CEVA Ground in China, a former joint venture that has now become a wholly owned subsidiary.
Under the original agreement, CEVA owned a 70 percent share in the company with local partner J.Y. Group having the remaining 30 percent.
A CEVA spokesperson told the JOC the completion of the buyout would enable closer integration of CEVA Ground with the group’s other supply chain services and enhance the group’s domestic network into Tier 2 and Tier 3 cities in China.
“With a strong domestic and global network, we are also able to connect our customers from domestic to international freight services seamlessly,” she said.
CEVA Ground currently provides a range of time-definite domestic and cross-border transportation covering 3,000 destinations using hub-spoke networks from Beijing, Shanghai and Guangzhou. The company also offers domestic air, rail, barge and reverse logistics services.
“CEVA Ground’s cross-border service in Asia is a unique, competitive differentiator for us in China,” she added.
Contact Mike King at michael@borderline.eu.com.