CEVA Logistics announces sale of Intermediate Bulk Container Business

Hoofddorp, the Netherlands, 17 December, 2012 – CEVA Logistics today announced the signing of a definitive agreement with Australian company Brambles Limited for the sale of both its European Container Logistics business and its Asia Pacific Pallecon business, subject to typical closing conditions.

Both businesses offer a full range of IBCs for the packaging of liquid, dry products and general security use and are known for their innovation and design. Within CEVA, each business operates as a self-contained business segment, with dedicated management teams and separate systems, processes and customers.

“While these are both businesses with exciting prospects, they lie outside CEVA’s core business of non-asset based integrated supply chain solutions, primarily Freight Management and Contract Logistics.”  Marvin O. Schlanger, CEO of CEVA, said.  “We feel that the businesses will be able to realize their full potential under the ownership of Brambles, and thank the management and staff for their contribution to CEVA.”

CEVA will utilize proceeds of the sale after transaction costs for general corporate purposes.  Completion is expected in first quarter 2013.

For more information contact:

Kay Hart, Senior Vice President, Global Communications, CEVA
kay.hart@cevalogistics.com
+1 281 618 3292

All commentary based on actual results unless stated otherwise.
 
CEVA - Making business flow
CEVA Logistics, one of the world’s leading non-asset based supply chain management 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 €6.9 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 2012 and beyond, 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