CEVA Logistics Malaysia Unveils Facility Expansion, Kicks-off 1st Year Anniversary
26 November 2008 - 11:40 CET
Investment in facility expansion in Shah Alam boosts commitment to Malaysia to over three million square feet in 2009Kuala Lumpur, Malaysia, 26 November 2008 - CEVA Logistics, a leading global supply chain management companies, recently unveiled its facility expansion plan to support its growing operations, and celebrated its first year anniversary for its integrated CEVA brand in Malaysia. The new 350,000 square feet distribution centre will officially open in early 2009, and will support CEVA's growth plans as it increases its presence in the region.
The new facility launch is part of CEVA Malaysia's strategy to double its business by 2010. Malaysia's growth focus has established the company as a leader in Technology, Tires, Industrial, and Retail/ Consumer segments, and positions CEVA as a leading player in freight management and contract logistics services.
"In conjunction with our one year anniversary, we are proud to announce the completion of our new distribution centre in Bukit Jelutong, located near Shah Alam, as part of our expansion strategy. We expect to relocate to the new premise by early 2009. This investment ensures CEVA is able to meet its customers' growing needs within the various key sectors" said Michael Yip, Managing Director of CEVA Malaysia.
CEVA's competence in operations excellence is supported by its Zero Defect Start-up and LEAN warehousing programs, which ensures smooth and continuous improvement to its customers' businesses. These programs are the key cornerstones which underpin the company's performance and drive its customer's satisfaction and efficiency.
"We have been able to achieve a great deal over the past year in the region." commented Vittorio Favati, President for CEVA Asia Pacific. "Our commitment to excellence stems from a belief that customers are not satisfied with the current performance of 3PLs managing their supply chains. We are confident of enacting change and creating global best practices that our industry has not achieved. Our Malaysian business is a great example of what CEVA is capable of." added Favati.
Present in Malaysia, CEVA's Chief Executive Officer John Pattullo commented, "Although companies are now facing increasingly tough market conditions, CEVA is in a solid position to maintain momentum - we have clear strategy, good focus on costs & cash, and innovative solutions which are driving above market revenue growth."
For media contact:
CEVA Asia Pacific
May Chng
Manager, Marketing & Communications - Asia Pacific
+65 6507 2763
May.Chng@cevalogistics.com
CEVA Malaysia
Crisci Chan
Business Development Executive
+60 3 7964 9832
Crisci.Chan@cevalogistics.com
CEVA. Making Business Flow
CEVA Logistics is a leading global supply chain management company. We provide end-to-end design, implementation and operational solutions in contract logistics and freight forwarding to large and medium-sized national and multinational companies. CEVA employs 56,000 people and runs an extensive global network with facilities in over 100 countries. Following the acquisition of EGL in August 2007, the new combined company had pro forma sales of € 6.3 billion. For more information, please visit www.cevalogistics.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT of 1995:
The statements included in this news release, and other statements that are not historical facts, may contain forward-looking statements. In addition to the assumptions specifically mentioned in the above paragraphs, there are a number of other factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the process of combining EGL and CEVA, the actual effects of recent and future regulatory changes and technological developments, globalization, levels of spending in major economies, the economic climate in Asia and the US, levels of marketing and promotional expenditure, actions of competitors and joint venture partners, employee costs, future exchange and interest rates, changes in tax rates, unexpected costs of integrating recently acquired businesses and future business combination or dispositions and other factors detailed in risk factors and elsewhere in CEVA and EGL's most recent Annual Reports, including but not restricted to the EGL Annual Report on Form 10-K. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. EGL and CEVA disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
