JOC Staff | Dec 17, 2012 12:31PM EST
Netherlands-based CEVA Logistics today signed an agreement with Australian company Brambles for the sale of both its European container logistics business and Asia-Pacific Pallecon business, subject to standard closing conditions.
Both businesses, which offer intermediate bulk containers, lie outside of CEVA’s core focus of non-asset based integrated supply chain solutions, primarily freight management and contract logistics, said Marvin O. Schlanger, CEVA’s CEO.
CEVA will use the proceeds of the sale after transaction costs for general corporate purposes. Completion of the sale is expected in the first quarter of 2013.
