TNT Logistics
Encyclopedia
CEVA Logistics is a global logistics
company.
It provides solutions in freight management, contract logistics, distribution and transportation management. The company runs a global network with facilities in over 170 countries and employs more than 49,000 people worldwide.
which was founded in Australia in 1946. In 1999, a logistics division of the company was created.
On 23 August 2006, TNT N.V.
announced that it has signed a Sale and Purchase Agreement to sell its logistics division to Apollo Management L.P.
, a U.S. private equity
firm. The new name and logo were announced on 12 December 2006.
On 2 August 2007, CEVA announced the completion of its merger with Houston (U.S.) based EGL
(Eagle Global Logistics), which was rebranded to CEVA on 30 November 2007.
On 8 November, 2011, CEVA announced its Quarter Three 2011 Financial Results, with Contract Logistics boosting Q3 performance. Highlights from the Quarter were:
Revenue of €1.76 billion and EBITDA of €86 million, up year-on-year by 1.2% and 5.8% respectively, at constant exchange rates, reflecting continuing good performance in Contract Logistics, partly offset by lower rates and volumes in Freight Management; Year to date EBITDA increased to €238 million, up year-on-year by 17.2% and 21.9% at actual and constant exchange rates respectively; Continued focus on cash management drives year-on-year reduction in net working capital by €34 million.
Logistics
Logistics is the management of the flow of goods between the point of origin and the point of destination in order to meet the requirements of customers or corporations. Logistics involves the integration of information, transportation, inventory, warehousing, material handling, and packaging, and...
company.
It provides solutions in freight management, contract logistics, distribution and transportation management. The company runs a global network with facilities in over 170 countries and employs more than 49,000 people worldwide.
History
CEVA was formerly known as TNT Logistics, a division of TNTTNT N.V.
TNT N.V., more commonly known as TNT, is an international express and mail delivery services company with headquarters in Hoofddorp, Netherlands. In the Netherlands, TNT operates the national postal service under the name TNT Post. The group also offers postal services in eight other European...
which was founded in Australia in 1946. In 1999, a logistics division of the company was created.
On 23 August 2006, TNT N.V.
TNT N.V.
TNT N.V., more commonly known as TNT, is an international express and mail delivery services company with headquarters in Hoofddorp, Netherlands. In the Netherlands, TNT operates the national postal service under the name TNT Post. The group also offers postal services in eight other European...
announced that it has signed a Sale and Purchase Agreement to sell its logistics division to Apollo Management L.P.
Apollo Management
Apollo Global Management, LLC is a private equity investment firm, founded in 1990 by former Drexel Burnham Lambert banker Leon Black. The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring, special situations and industry...
, a U.S. private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm. The new name and logo were announced on 12 December 2006.
On 2 August 2007, CEVA announced the completion of its merger with Houston (U.S.) based EGL
EGL
EGL may refer to:* European Gemological Laboratory* Elegant Gothic Lolita, a fashion line* EGL , a computer programming language* Eesti Gaidide Liit, an Estonian Guides Association* EGL , a software interface...
(Eagle Global Logistics), which was rebranded to CEVA on 30 November 2007.
On 8 November, 2011, CEVA announced its Quarter Three 2011 Financial Results, with Contract Logistics boosting Q3 performance. Highlights from the Quarter were:
Revenue of €1.76 billion and EBITDA of €86 million, up year-on-year by 1.2% and 5.8% respectively, at constant exchange rates, reflecting continuing good performance in Contract Logistics, partly offset by lower rates and volumes in Freight Management; Year to date EBITDA increased to €238 million, up year-on-year by 17.2% and 21.9% at actual and constant exchange rates respectively; Continued focus on cash management drives year-on-year reduction in net working capital by €34 million.