CEVA Logistics is targeting further growth in Asia, according to Inna Kuznetsova, the company’s chief commercial officer.
Some €2.1 billion (about US$2.9 billion) of CEVA’s fiscal year 2012 revenue was derived from its Asia-Pacific operations, representing around 30 percent of its annual income.
Speaking at the launch of the company’s new “Center of Logistics Excellence” for the Asia-Pacific region in Singapore earlier today, Kuznetsova told JOC that the region was viewed internally as a key market.
“It’s a very important area for us,” she said. “The growth our Asian customers enjoy makes their counterparts in other countries jealous. The Bank of Singapore estimates that by 2020 fifty percent of the world’s middle class will be in the Asia Pacific. That figure is very hard to ignore.”
She said additional growth would come from rising consumption of cars, electronics and retail goods, increasing the requirement for end-to-end supply chain solutions across a range of verticals.
“We successfully recapitalized earlier this year so with that additional credit line we will build up our capabilities and infrastructure and, especially, people,” she added.
CEVA’s new Center of Logistics Excellence in Singapore is located near Changi Airport and is designed to showcase the company’s supply chain services. It follows the opening of an inaugural center in Jacksonville, Fla., earlier this year, which Kuznetzova said had already attracted some 200 customers.
“The centers allow us to brainstorm with clients and our experts how best to manage their supply chains,” she added.
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