July 30, 2014 7:44 AM ET

Air Freight and Logistics

Company Overview of CEVA Holdings LLC

Company Overview

CEVA Holdings LLC, together with its subsidiaries, designs, implements, and operates end-to-end freight management and contract logistics solutions for multinational and large and medium sized companies worldwide. The company operates in two segments, Freight Management and Contract Logistics. The Freight Management segment provides international air, ocean, and domestic freight forwarding, as well as customs brokerage, deferred air and pickup and delivery, and other value-added services. The Contract Logistics segment offers inbound logistics, manufacturing support, outbound/distribution logistics, and aftermarket/reverse logistics services. The company primarily serves the automotive, cons...

Trust Company Complex

Ajeltake Road

Ajeltake Island

Majuro,  96960

Marshall Islands

44,000 Employees

Key Executives for CEVA Holdings LLC

Chief Executive Officer
Age: 56
Chief Financial Officer
Age: 57
Chief Operating Officer and Member of Board of Managers
Age: 57
Chairman and Interim President of Americas
Age: 66
Chief Information Officer and President of Asia Pacific
Age: 54
Compensation as of Fiscal Year 2014.

CEVA Holdings LLC Key Developments

CEVA Logistics Announces Expanded Aerospace Industry Presence in Fort Worth, Texas

CEVA Logistics announced that it is expanding its aerospace industry operations at Fort Worth Alliance Airport (AFW). Alliance Airport, owned by the City of Fort Worth, is the purely industrial airport designed for cargo and corporate aviation. The new CEVA facility has 100,000 sq ft (9,290 sq m) of warehouse space and is adjacent to the Alliance Airport runway, permitting chartered flights to taxi directly to the facility for unloading cargo. The operation will also provide Oceanfreight transportation management and other pre-manufacturing support services.

CEVA Holdings LLC Reports Earnings Results for the First Quarter Ended March 31, 2014

CEVA Holdings LLC reported earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported loss attributable to equity holders of the company of $155 million, compared to a loss attributable to equity holders of the company of $148 million for the same quarter ended March 31, 2013. Revenue was $1.86 billion, compared to $2.05 billion for the same quarter ended March 31, 2013. Operating loss was $14 million, compared to an operating loss of $19 million for the same quarter ended March 31, 2013. Loss before income taxes was $155 million, compared to a loss before income taxes of $161 million for the same quarter ended March 31, 2013. Adjusted EBITDA increased 7.5% to $43 million, driven by a strong performance in Contract Logistics where profits increased 37.8% as part of CEVA's decision to exit underperforming contracts last year, which also resulted in an expected and planned reduction in revenue in this segment.

CEVA Group plc Announces Receipt of Requisite Consents to Amend Indentures Pursuant to Tender Offers and Consent Solicitations

CEVA Group Plc announced that, in connection with its previously announced cash tender offers and consent solicitations made pursuant to the offer to purchase and consent solicitation statement, it has received tenders and consents on 17 March 2014 of an aggregate principal amount of $508,445,000 of its 8.375% senior secured notes due 2017, representing approximately 90.4% of the outstanding principal amount, an aggregate principal amount of $208,050,000 of its 11.625% senior secured notes due 2016, representing approximately 99.1% of the outstanding principal amount and an aggregate principal amount of $12,190,001 of its 11.5% junior priority senior secured notes due 2018, representing 100% of the outstanding principal amount. Based on the tenders and consents received, the company has received the requisite consents necessary for the adoption of proposed amendments to the indentures governing the existing secured notes, which will eliminate substantially all of the restrictive covenants and certain events of default and related provisions contained in such indentures, provide for the release of all of the liens on the collateral securing the existing secured notes and reduce from 30 days to three business days the minimum notice period for optional redemptions under such indentures and the indenture governing the unsecured notes, which will reduce from 30 days to three business days the minimum notice period for optional redemptions under such indenture. in conjunction with receiving the requisite consents, the company, the guarantors party to the applicable indentures and The Bank of New York Mellon, as trustee under the indentures governing the existing secured notes, and Wilmington Trust, National Association, as trustee under the indenture governing the unsecured notes, are executing the applicable supplemental indentures with respect to each indenture governing the notes implementing the applicable proposed amendments. The supplemental indentures will become effective upon execution, but the proposed amendments will not become operative until the first applicable early payment date, which is expected to be 19 March 2014.

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CEVA Holdings LLC Asia

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