CEVA Logistics and Almajdouie Logistics have officially established a new joint venture in Saudi Arabia, formalized through an agreement signed at the inaugural Global Logistics Forum in Riyadh. This venture, initially announced in July and subsequently approved by Saudi authorities, is named CEVA Almajdouie Logistics. It aims to combine the expertise of both companies to address the increasing demand for comprehensive logistics solutions within the Kingdom. CEVA Logistics holds a majority stake in this new entity. The company has a long-standing presence in Saudi Arabia, dating back to the 1980s, and has a history of collaboration with Almajdouie Logistics, including a previous joint venture focused on the finished vehicle logistics sector. Mathieu Friedberg, CEO of CEVA Logistics, stated, "Our partner’s existing business and reputation in Saudi Arabia will ensure the JV starts as one of the top five logistics players in the country. We see the deal as a strong, strategic move for both partners and great news for our customers."