CEVA Logistics acquires Morocco's ASTI Group to boost expansion in Africa
SWITZERLAND's CEVA Logistics, a subsidiary of French shipping giant CMA CGM, has acquired ASTI Group in Morocco as part of its strategy to expand across the African continent
11 January 2021 - 19:00
CEVA Logistics and ASTI have been long-term partners for more than two decades and have delivered a range of multi-modal services to customers in North Africa.
Through acquiring the company, CEVA Logistics will expand its range of export capabilities, specifically reefer services - in cooperation with its parent company the CMA CGM Group - and contract logistics activities in both Casablanca and the Tangiers Free Zone.
The new operation will be looking to capitalise on the strength of the automotive industry in the country, a vertical in which CEVA Logistics is a market-leader.
CEVA Logistics' CEO Mathieu Friedberg said: 'The acquisition of ASTI further enhances our standing in the African market and shows our ambition for the continent as a whole. We believe there is enormous potential across a range of freight services and extending the CEVA brand in its own right in Morocco will set us on the road to further success'.
Ahmed Belmrah, CEO and founder of ASTI Group, commented: 'The sale of ASTI to CEVA Logistics is the logical continuation of our historic partnership and constitutes an important step in the strategic development of CEVA Logistics in both Morocco and Africa'.
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