UK-based CEVA Group Plc said it has completed its merger with EGL Inc., under which EGL has now become a wholly owned indirect subsidiary of CEVA, which in turn is owned by affi liates of Apollo Management. EGL’s former shareholders are entitled to receive $47.50 in cash, without interest, for each share of EGL common stock they owned at the effective time of the merger. … [Read more...] about CEVA completes EGL merger

Kuwait’s Agility, a logistics company with multi-billion dollar Pentagon contracts, said it was co-operating with a US investigation into military supplies fraud, the Gulf Daily News reported. A US prosecutor charged Texas businessman Samir Mahmoud Itani with fraud last month, accusing his company, American Grocers, of claiming trucking costs it didnot incur between 2004 and last year. Agility said the US Attorney’s offi ce had incorrectly identifi ed American Grocers as a … [Read more...] about Agility co-operates with US investigators

The contract logistics market in Western Europe grew by 6.7 percent in 2006 to reach 49 billion euros. This is one of the key fi ndings in “European Transport and Logistics Markets 2007”, the latest report to be published by UKbased research organisation Transport Intelligence. Some of the highest rates of growth were in the Nordic region. Finland in particular has benefi ted from increasing trade with Russia, and is well on the way towards positioning itself as a gateway to the … [Read more...] about European logistics enjoy ‘solid’ year

BizX Trading (BizX) a leading corporate business-to-business barter exchange, has signed an agreementwith Aramex. Aramex, a provider of total transportation solutions in the Mena region and South Asia, will exchange logistics services for a range of products and services available in the BizX Trading exchange on a barter basis. Under the agreement, BizX will take a position in Aramex’s inventory of logistics services and in return receive an equal value of‘BizX Trade … [Read more...] about Aramex in deal with barter firm

Thailand's actual logistics costs index this year should not be above its previous forecast of 23.9 percent of gross domestic product, the Nation reported, citing Thammasat Business School associate professor Ruth Banomyong. While he declined to give details on the forecast for 2008, he said the high fi gures for logistics costs, including almost 50 percent of total logistics costs from transportation, indicate that the country still lacks competitiveness due to its high costs in inventory … [Read more...] about Thailand’s logistics costs too high

China’s national logistics trade value rose 25.5 percent in the fi rst half to 33.8 trillion yuan (US$4.4 trillion), representing a growth of 1.7 percent faster than that recorded in the fi rst quarter, Xinhua reported. According to the China Federation of Logistics & Purchasing’s January to June statistics, industrial logistics value jumped by 27.4 percent to 29.8 trillion yuan, growing 2.2 percent faster than it did in the fi rst quarter. Import logistics value went up … [Read more...] about China logistics industry reports rise