The brand formerly known as GEFCO is now officially named CEVA Logistics. The French logistics company completed the integration procedures after GEFCO’s purchase in July 2022 by CMA CGM and launched a dedicated finished vehicles logistics division to take over its operations.
The acquisition and integration of GEFCO made CEVA the largest logistics company in France while also growing its share in global automotive logistics considerably. Before GEFCO’s integration, CEVA already supported 14 of the 15 top global automotive manufacturers.
CEVA’s new FVL division will operate under the guidance of Emmanuel Cheremetinski, who used to be GEFCO’s former COO. He will run a team of approximately 4,000 employees. “With our new CEVA colleagues who came from GEFCO, we can offer extensive global capabilities to a wide range of industries, including the automotive industry,” commented Mathieu Friedberg, the CEO of CEVA Logistics. “Integrating a mature finished vehicle organisation puts CEVA in a very strong position,” added the company’s deputy CEO Guillaume Col.
How it all started
Reports regarding the purchase of GEFCO by CMA CGM, which is CEVA’s mother company, have been circulating in French media since April 2022. The acquisition was announced officially on 8 April and was completed in July. Before that, GEFCO’s main shareholder was state-owned Russian Railways.
The 5th package of US and EU sanctions on Russia following the invasion of Ukraine impacted the Russian Railways directly. For GEFCO, sanctions resulted in limited funding possibilities but also created an ‘image problem’, mainly because of Oleg Belozerov, the head of RZD and a close confidant of President Vladimir Putin. Incidentally, Belozerov himself had wanted to get rid of the interest in the French logistics service provider for some time.
CMA CGM said back in April that the acquisition of GEFCO represented another step forward in its growth strategy, strengthening its position as a global player in the transport and logistics sector. The logistics giant mentioned that GEFCO could also benefit by continuing to operate within a secure regulatory framework and from the group’s leading technological and logistical capabilities that could expand into its international markets.
Source : railfreight