CEVA solidifies its leading global position in supply chain management

HOOFDDORP, 30 November 2007 – Leading global supply chain management company CEVA solidifies today the merger with Eagle Global Logistics (EGL), creating one of the top-5 supply chain companies in the world. In the first three months after the merger the company’s total annualised revenues, announced this Thursday in London, increased to over € 6.2 billion. The integration follows the acquisition of EGL by CEVA on August 2, 2007, supported by its shareholder Apollo Management L.P.

With the merger, over 11,000 EGL employees working in more than 120 countries start operating, as of today, under the CEVA Logistics brand. More than 95% of the senior management continue working with the group. All existing contracts and agreements will remain without change in terms and conditions.
 
The Contract Logistics and the Freight Management divisions are complementary, leveraging sector expertise and increasing the company’s market presence. Relying on that, CEVA’s strategy for growth in the coming years will focus on cross selling and integrated solutions.

John Pattullo, Chief Executive Officer since August, said: “We are a new company comprised of former TNT Logistics and EGL and we already behave as a single, integrated entity. In these months after the merger CEVA has already established disciplined leadership processes and started leveraging scale with powerful global initiatives such as LEAN and “Smart Solutions” which are translated into operational excellence for the customers.” In Pattullo’s view, further deployment of several clients’ excellence programmes will play an important role in CEVA’s future. “These programmes are a key point of competitive advantage. The fact that we are one of the major players in the global supply chain is now reflected in our results.”