Ceva Logistics and Almajdouie Logistics have signed a final agreement to create a joint venture (JV) in Saudi Arabia, at the opening Global Logistics Forum in Riyadh.
The newly created JV – Ceva Almajdouie Logistics – will leverage the experience of both companies to meet the growing demand for integrated logistics solutions in Saudi Arabia to support the country’s growing logistics sector and overall economy. It follows on from the establishment of the JV in July 2024.
Having a presence in Saudi Arabia since the 1980s, Ceva Logistics controls a majority stake in the JV.
Almajdouie’s infrastructure within Saudi Arabia will be combined with Ceva’s global network. Ceva Almajdouie Logistics will be headquartered in Damman and will be led by ceo Bassel El Dabbagh, with around 2,000 employees in the country and a local fleet of more than 2,000 assets.
“We are confident that now is the right time to join forces with a global logistics leader and offer truly integrated global services to our customers. Our JV with CEVA Logistics marks the beginning of a new chapter that strengthens the global reach of Saudi businesses. We are proud to align our growth with the nation’s Vision 2030 goals and are eager to continue playing a key role in Saudi Arabia’s transformation,” said Mohammed Almajdouie, chairman, Ceva Almajdouie Logistics.
“With the Saudi market experiencing significant growth, seamless logistics and global connectivity are essential for the domestic economy,” said Mathieu Friedberg, ceo of Ceva Logistics. “Our partner’s existing business and reputation in KSA [Kingdom of Saudi Arabia] will ensure the JV starts off as one of the top five logistics players in the Kingdom of Saudi Arabia. We see the deal as a strong, strategic move for both partners and great news for our customers.”
