Ceva Logistics and Almajdouie Logistics sign joint venture in Saudi Arabia

PRESS RELEASE

MARSEILLE, France – July 16, 2024 – As a part of its strategic plan, CEVA Logistics announced today that it has signed a Joint Venture (JV) agreement with Almajdouie Logistics, one of the leading logistics providers in the Kingdom of Saudi Arabia (KSA).

The signed agreement now awaits review and approval by the necessary regulatory authorities. CEVA Logistics would control the majority of the newly established joint venture.  

Strategic move for both sides  

The JV would mark a major milestone in both companies’ growth strategies. Almajdouie Logistics would benefit from CEVA’s strong global network, allowing it to serve its growing portfolio of customers with end-to-end integrated logistics solutions anywhere in the world. At the same time, CEVA Logistics would continue building an established and strong presence in Saudi Arabia to fulfill its regional growth strategy. Once completed, the JV organization would have around 2,000 employees in KSA and a local fleet of more than 2,000 assets…

The full release is here.