CEVA Logistics announced it has completed the buyout of CEVA Ground in China, transforming the joint venture into a wholly owned subsidiary of the Netherlands-based logistics provider.
The buyout of CEVA’s local partner Shanghai J.Y. (Group) Company, which had a 30 percent stake in the joint venture, was completed on June 6, CEVA said.
The buyout will bolster CEVA’s efforts to provide end-to-end integrated solutions in China’s logistics industry, where intense competition, market fragmentation and cost pressures have driven many road transport providers to experience service quality and reliability issues, the company said.
Photo: CEVA
