Apollo Management, the private equity firm that bought TNT Logistics last month, has renamed thecompany Ceva Logistics and unveiled a new corporate identity to reflect its stand-alone position in
the market.The company, the second largest logistics services provider worldwide, is already doingbusiness as Ceva, using a new logo incorporating a triangle which the company says is symbolic ofthe supply chain business.
After unveiling the new brand name and logo today, Dave Kulik, Ceva’s CEO said: “The Cevabrand will be synonymous with advanced logistics technology and exceptional quality of service tocustomers worldwide.
“Our rebirth as Ceva gives us the opportunity to focus 100% of our energy on becoming theleading global service provider in logistics.”
The Ceva triangle also links the three cornerstones of its strategy – innovation,collaboration and “proactiveness” – Kulik said. “Our commitment to these qualities is what willmove us to the forefront of our industry,” he added.
The company, which had a turnover of EUR 3.5 billion in 2005 and employs 38,000 people, hasits headquarters in Hoofddorp, the Netherlands.
TNT sold the division to Apollo Management for EUR 1.48 million, the proceeds of which it isusing to fund a EUR 1 billion share repurchasing programme, now 80% complete.
