CEVA Logistics is expanding its finished vehicle logistics (FVL) services by taking full control of its 50/50 joint venture, BERGÉ GEFCO. The remaining 50% of the joint venture was purchased from BERGÉ, with the transaction receiving approval from the Spanish National Markets and Competition Commission (CNMC).
BERGÉ GEFCO is a FVL solutions provider for the Iberian Peninsula, whose business will now be integrated into CEVA’s existing operations in Spain. As a result, BERGÉ GEFCO assets will soon carry the CEVA Logistics brand.
CEVA Logistics is a wholly owned subsidiary of the CMA CGM Group, which completed its acquisition of GEFCO in July 2022, including its 50% stake in the BERGÉ GEFCO joint venture. GEFCO’s global operations have now been integrated into CEVA Logistics.
The acquisition extends CEVA’s current services in Spain, incorporating finished vehicle logistics into its existing portfolio of contract logistics, as well as ocean, air, road and rail transport solutions.
CEVA Logistics offers global automotive customers an extensive range of FVL services, including transportation, warehousing, technical support, inspections and delivery. Now, with the incorporation of the expertise and assets of the BERGÉ GEFCO joint venture, CEVA is able to extend those same end-to-end services to customers in Spain.
The acquisition of BERGÉ GEFCO includes 4.2m sq m of vehicle storage space, 925 vehicle transport trucks, 160 vehicle transport wagons, 40,000 sq m of workshops, 17 logistics centres in Spain and approximately 700 employees. Through the acquired business, the company expects to transport 1.9m vehicles annually.
Emmanuel Cheremetinski, global FVL leader, CEVA Logistics, said: “Taking full control of this JV reinforces our strong FVL capabilities in Europe and, more specifically, in Spain, which is a very important market for finished vehicles. Our local FVL customers will now be able to benefit more directly from the full support of CEVA’s global network and range of services.”
Source: CEVA Logistics
