Ceva Logistics is to sell it European Container Logistics business and its Asia Pacific Pallecon business to Australian company Brambles for ‚¬135m.
Both businesses offer a full range of intermediate bulk containers (IBCs) for the packaging of liquid, dry products and general security use. Within Ceva, each business operates as a self-contained business segment, with dedicated management teams and separate systems, processes and customers.
Ceva CEO Marvin O Schlanger said: While these are both businesses with exciting prospects, they lie outside Ceva’s core business of non-asset based integrated supply chain solutions, primarily Freight Management and Contract Logistics. We feel that the businesses will be able to realise their full potential under the ownership of Brambles, and thank the management and staff for their contribution to Ceva.