Ceva Logistics has signed a joint venture agreement with one of Saudi Arabia’s leading logistics providers, Almajdouie Logistics.
The agreement awaits review and approval by the relevant regulatory authorities, with Ceva Logistics controlling most of the venture. On completion of the deal, the organisation will comprise roughly 2,000 workers in Saudi Arabia and a local fleet of more than 2,000 assets.
The JV will target various industry verticals ranging from the conventional Saudi energy and petrochemicals industry to automotive, e-commerce, consumer and retail. The companies said that their combination of regional knowledge and global solutions would allow local customers to expand their geographic offering and allow global customers to better serve the Saudi Arabian market.
“We have worked successfully with Almajdouie Logistics over the past decade, and with the growing market in Saudi Arabia, this joint venture would strengthen our local presence,” said Mathieu Friedberg, ceo of Ceva Logistics.
Mohammed Almajdouie, ceo of Almajdouie Logistics, added: “By pooling our expertise and resources through this partnership, we aim to strengthen our competitive advantage and offer an integrated and comprehensive suite of logistics services enabling us to capitalize on the opportunities presented by the Kingdom’s vibrant and rapidly evolving business landscape.
