CEVA Logistics and Almajdouie Logistics Form Joint Venture to Enhance Integrated Logistics Services in Saudi Arabia

CEVA Logistics and Almajdouie Logistics have signed an agreement to establish a joint venture in Saudi Arabia.

The creation of the CEVA Almajdouie Logistics joint venture was announced in July 2024 and was subsequently approved by the relevant regulatory authorities of the Kingdom of Saudi Arabia. The new company will utilize the strengths of both companies to meet the growing demand for integrated logistics solutions. Thus, it will contribute to the development of the logistics service sector in the region, while also supporting the economic growth of Saudi Arabia. CEVA Logistics has taken a majority stake in the new company.

CEVA Logistics, present in Saudi Arabia since the 1980s, has been working with Almajdouie Logistics for many years, predominantly in the area of finished vehicle logistics. Now, CEVA Almajdouie Logistics intends to combine the transport and logistics operations of both companies in Saudi Arabia, and clients will benefit from the integration of Almajdouie’s domestic infrastructure with CEVA’s global network. The headquarters of the new company is in Dammam, and Bassel El Dabbagh manages it as CEO with a team of around 2000 employees and a local fleet of more than 2000 vehicles.

Mohammed Almajdouie, President of CEVA Almajdouie Logistics, says: “At Almajdouie Holding, our logistics arm has grown alongside the local economy. We have been engaged in the development of the logistics services sector since the early stages of the Kingdom’s development, servicing key industries and contributing to the rapid transformation of the country. We believe that now is the right time to join forces with a global logistics leader and offer our clients truly integrated services on a global scale. Our joint venture with CEVA Logistics marks the beginning of a new chapter, strengthening the global reach of Saudi companies. We are proud that our growth aligns with the goals of Vision 2030 and are eagerly preparing for further support of the transformation of Saudi Arabia.”

Mathieu Friedberg, CEO of CEVA Logistics, emphasizes: “In the face of rapid growth in the Saudi market, efficient logistics and a global network of connections are crucial to the national economy. Both companies share a common vision of development and a commitment to delivering world-class logistics services to our clients. Thanks to the established position and reputation of our partner in Saudi Arabia, the new joint venture will, from the very beginning, be one of the top five logistics service providers in the Kingdom. We see this cooperation as a strong, strategic step for both partners and excellent news for our clients”.