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TNT Logistics, a unit of Dutch logistics firm Thomas
Nationwide Transport, has officially changed its name to CEVA
Logistics, following a 1.48 billion euro acquisition in August by an
affiliate of U.S. buyout firm Apollo Management.
"This allows us to focus 100 percent on logistics, so that we can grow
at a faster rate," said Collin Moran, formerly TNT Logistics' country
manager in Indonesia and now managing director of CEVA Logistics Asia,
when commenting Wednesday on the rebranding announcement in Jakarta.
The complete rebranding from TNT Logistics to CEVA Logistics will be
finalized by November 2009 at the latest. "In the meantime, the
company's operations continue as usual," he said.
CEVA Logistics is now 95 percent owned by Apollo Management LP, a New
York-based recognized leader in private equity, debt and capital market
investment, while the remaining 5 percent stake remains with TNT.
The Indonesian unit, called Ceva Logistics Indonesia, has over 400
employees and 175 vehicles, along with warehousing space extending to
some 150,000 square meters in the country's big cities, such as
Jakarta, Medan, Yogyakarta and Surabaya.
Indonesia currently accounts for 20 percent of CEVA's Asian business,
with the focus being on the chemical, industrial and fast-moving
consumer goods sectors.
"For next year, we will be targeting the pharmaceutical, automotive,
telecommunications, fast-moving consumer goods and industrial chemicals
sectors," said Rita Kathleen Boyle, previously the general manager of
TNT Logistics Indonesia and now the general manager of Ceva Logistics
Indonesia.
TNT, which has three divisions -- express, post and logistics -- had
planned the sell its logistics division since the end of last year. In
Indonesia, TNT has only two divisions: TNT Logistics and TNT Express.
Globally, the logistics business accounted for 35 percent of TNT's
total revenue of 10.1 billion euros in 2005.
CEVA Logistics, which operates in 26 countries, earned 3.5 billion
euros in global revenues in 2005, with the automotive sector
contributing 41 percent.
The company employs 38,000 people and manages 567 warehouses around the
world with total floor space of more than 7.4 million square meters.
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