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Ceva signs Saudi joint venture

[ October 14, 2024   //   ]

Ceva Logistics signed a final agreement with Almajdouie Logistics to create a joint venture in the Kingdom of Saudi Arabia at the Global Logistics Forum in Riyadh. First announced in July 2024 and already approved by the Saudi authorities, CEVA Almajdouie Logisticwill meet the growing demand for integrated logistics solutions in the Kingdom. Ceva Logistics will control a majority stake of the joint venture. Headquartered in Damman, the joint venture organization will be led by CEO Bassel El Dabbagh, with around 2,000 employees in KSA and a local fleet of more than 2,000 assets.    Ceva Logistics has collaborated with Almajdouie Logistics for many years, including a separate joint venture in the finished vehicle logistics market.

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