Ceva Logistics to sell the Italy groupage business of Sittam

Sittam’s business was identified as non-core at Ceva Logistics; its continued success would be stronger under new ownership

Ceva Logistics has signed definitive agreements with a subsidiary of Gruppo PIR, La Petrolifera Italo Rumena S.p.A, for the sale of Spedizioni Internazionali  Trasporti Terrestri Aerei e Marittimi S.r.l.(SITTAM), an international groupage business, based in Cornaredo (Milan), Italy. The transaction is supported by Sittam’s management. Completion of the transaction is expected at the end of April 2015.

Sittam is recognized as a market leader in Italy, and for the quality, flexibility and reliability of its groupage services (consolidating small shipments into larger loads) in international land transport. The company’s head office is in Cornaredo, near Milan, with nine branch offices throughout Italy. Sittam has strong coverage in Europe through regular services and a network of agents in most countries, including Germany, Austria, France, Spain, Turkey and Eastern Europe.

While Sittam was part of TNT when the latter was sold to Apollo Global Management in 2006 (and later renamed Ceva Logistics), it continued to operate under its own brand under the umbrella of Ceva’s logistics business in Italy, collaborating on mutual business opportunities.

“Sittam has an excellent reputation in its market,” said Xavier Urbain, CEVA Chief Executive Officer. “Within the environment which Gruppo PIR will provide, Sittam’s management team has the commitment and experience to take the company to the next level.”

Ceva Logistics designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 42,000 employees in more than 170 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

www.cevalogistics.com

Quelle: LogEastics
Portal: www.logistik-express.com