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Ceva Logistics renews contract with Rolls Royce’ firm ITP Aero

LBR Staff Writer Published 12 April 2018

Supply chain management firm Ceva Logistics has renewed its contract with Rolls Royce Group subsidiary ITP Aero for an additional five-year period.

ITP Aero, which is claimed to be the ninth largest global aircraft engine and components company, is engaged in the engineering, research and development, manufacture, assembly and testing of aeronautical engines and gas turbines. 

Since last seven years, Ceva has been providing ground, air and sea services to ITP Aero in Europe, America, Africa and Asia.

As part of the new deal, Ceva continue to manage the imports and exports, customs brokerage, warehousing activities, in addition to offering value added services.

Ceva will continue to manage the activities at the main ITP Aero’s Spanish plants located at Zamudio, Barakaldo, Sestao, Ajalvir and Albate. It will also handle activities at several others centers in Mexico, the US, the UK and Malta.

Ceva will coordinate all the activities from its office located in Bilbao.

Ceva Iberia managing director Marco Galbusera said: “We are extremely proud that the trust ITP put on us continues growing. This renewal shows the excellent service CEVA has provided to ITP over the last seven years and proves how our collaboration has evolved and grown to meet their expanding requirements.

“This contract extension is not only a joint success story but also illustrates CEVA’s strong expertise and focus on the Aerospace sector in the Iberia cluster and globally.”

Recently, Ceva has unveiled plans to raise about CHF1.3bn ($1.35bn) via an initial public offering (IPO) on SIX Swiss Exchange.

Subject to market conditions, the company intends to conduct IPO in the second quarter of this year.

Ceva will use the proceeds to repay debt to deleverage the balance sheet to below 3x net debt/adjusted earnings before interest, tax, depreciation and amortization (EBITDA).

In connection with the proposed IPO, CEVA Holdings LLC shall be combined with CEVA Logistics AG to create the new holding company.