TNT Logistics changes name to CEVA Logistics
Staff -- Logistics Management, 12/12/2006
AMSTERDAM—Contract logistics company, TNT Logistics announced today it changed its name to CEVA Logistics.
The company will begin doing business under the new brand across 26 countries worldwide as of today. The overall branding is schedule for completion in 2009 worldwide.
CEVA Logistics employs 38,000 people and operates roughly 80 million square feet of warehouse space across 26 countries world wide. CEVA is owned by affiliates of Apollo Management, L.P.
TNT N.V. put its logistics division up for sale in December 2005 in an effort to simplify its organizational structure and explore its best opportunities for future growth. The company cited a need to stick to its core strength of running delivery network businesses, including Express and European Mail Networks (EMN) and Mail Netherlands, as a major driver behind the decision—continuing industry consolidation was also identified by the company as factor in selling off its logistics business.
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