Definitive Agreement signed for renewal and expansion of ANJI-CEVA joint venture

Shanghai, People’s Republic of China and Hoofddorp, the Netherlands, 30 march 2017

ANJI Automotive Logistics – China's largest automotive logistics provider (“ANJI”) and CEVA Logistics, one of the world’s largest supply chain management companies (“CEVA”)  are pleased to announce the signing of definitive agreements to renew and grow their 50/50 joint venture partnership  (“ANJI-CEVA Logistics”, originally Anji-CEVA Automotive Logistics ) for an additional fifteen years and expand ANJI-CEVA’s business scope to non-automotive contract logistics in China, including Hong Kong.

ANJI-CEVA was the first logistics joint venture officially approved by the People's Republic of China's Ministry of Transport and Ministry of Foreign Trade and Economic Cooperation in 2002*.  Today it is the largest and leading contract logistics provider in China with a strong focus on automotive with a revenue close to US$ 1 billion in 2016 and more than 15,000 employees.  It offers a wide variety of services covering inbound logistics, aftermarket contract logistics, import and export logistics as well as a unique ground transportation network covering more than 400 cities in China.

With the renewal, in addition to the automotive sector, ANJI-CEVA will expand its business scope to include non-automotive contract logistics activities across great China with an initial focus on industrial & aerospace, technology, consumer & retail sectors and e-commerce.  ANJI-CEVA will fully participate in CEVA’s global network and build on contract logistics business that it will acquire from CEVA in China. By leveraging the combination of ANJI-CEVA’s operational expertise, skills, management and its extensive coverage across China, together with CEVA’s customer service model and operating processes, ANJI-CEVA will be able to offer competitive, innovative high quality solutions in China to Chinese and overseas customers.

This renewed and expanded partnership is a testament to the confidence of both shareholders in the future of our market-leading joint venture.  The significant expansion of ANJI-CEVA’s business scope into non-automotive sectors will bring clear advantages to both domestic and international customers in China. It is an ambitious and exciting step forward in this long standing and successful collaboration between the two companies which will enable ANJI-CEVA to diversify its revenue sources into other sectors.  Both shareholders express their confidence the ANJI-CEVA joint venture will proceed from strength to strength in the years to come.

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* JOINT VENTURE HISTORY:

The joint venture commenced in 2002, as ANJI-TNT*, with a view to focusing on the development of the automotive logistics industry in China.  Its core mission has always been to provide world-class contract logistics services by combining the expertise of its two shareholders across all automotive parts logistics functions.

It became ANJI-CEVA Automotive Logistics after the 2006 acquisition of TNT Logistics by the New York headquartered private equity fund Apollo Global Management and subsequent rebranding as CEVA Logistics.

Anji Logistics, established in August, 2000, is a wholly-owned subsidiary under SAIC Motor Corporation Limited specialized in automotive logistics, it provides automotive logistics service to major domestic/overseas OEMs and auto parts manufacturers. Over the years of development, Anji Logistics challenge itself continuously and keep practice and innovation, has formed six major business fields of finished vehicle logistics, parts logistics, port logistics, shipping and logistics, international logistics as well as information technology which can provide customers with the integrated, technical, network-based and transparent automotive logistics supply chain services.

CEVA - Making business flow

CEVA Logistics, one of the world’s leading non-asset based supply-chain management companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 41,000 employees in more than 160 countries are dedicated to delivering effective and robust supply-chain solutions across a variety of sectors where CEVA applies its operational expertise to provide best-in-class services across its integrated network.