Houston, Texas, May 18, 2009 – CEVA Logistics, one of the leading supply chain companies in the world, today announced it has been awarded 100% of the worldwide forwarding services for Powerwave Technologies, Inc., a global leader in end-to-end wireless coverage and capacity solutions for wireless communications networks.
“We’ve enjoyed a long-standing relationship with CEVA as our secondary logistics provider – handling a fraction of our logistics business. However, we are in the process of consolidating our supply base and due to CEVA’s commitment, performance and professionalism, we’ve awarded them our global logistics business,” said Heiko Juritz, Chief Procurement Officer, Powerwave Technologies, Inc. “We look forward to working with the CEVA team to identify strategic solutions and cost-reduction incentives as Powerwave continues to grow its business and support next-generation wireless networks globally.”
Jerome Stelly, Global Account Director for CEVA said, “We are very excited about expanding our partnership with Powerwave. We understand the unique complexities of the Company’s supply chain and the importance of having a reliable partner with proven global experience. I think we really differentiated ourselves with a strategic solution that will improve the speed of their supply chain and help reduce costs. This solution is supported by an account management team specifically dedicated to Powerwave’s requirements in each of its operating regions.“
Services provided by CEVA for Powerwave will include all heavyweight airfreight and seafreight management. CEVA will also manage a distribution center in Hong Kong, ground transportation in mainland China and is currently laying the foundations for Powerwave’s global brokerage business, which is heavily focused on the company’s expanding operations in India.
Powerwave Technologies, Inc. (NASDAQ: PWAV) is a global leader in end-to-end wireless coverage and capacity solutions for wireless communications networks. Offering cutting edge wireless infrastructure to address the demands of enterprise and commercial customers, Powerwave offers a comprehensive suite of solutions, including Antennas, Base Station Solutions and Coverage Solutions. Powerwave’s product line supports all wireless network protocols and frequencies including Next Generation Networks in 4G technology such as WiMAX and LTE. Powerwave solutions, products and services also help wireless operators and OEMs reduce capital and operating expenses, speed rollout of services, improve coverage and capacity, and reduce environmental impact.
CEVA - Making Business Flow
CEVA Logistics is a leading global supply chain management company. We provide end-to-end design, implementation and operational solutions in contract logistics and freight management to large and medium-sized national and multinational companies. CEVA employs circa 50,000 people and runs an extensive global network with facilities in over 100 countries. For the year ending 31 December 2008, the Group reported revenues of €6.3bn. For more information, please visit www.cevalogistics.com.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT of 1995:
The statements included in this news release, and other statements that are not historical facts, may contain forward-looking statements. In addition to the assumptions specifically mentioned in the above paragraphs, there are a number of other factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the process of combining EGL and CEVA, the actual effects of recent and future regulatory changes and technological developments, globalization, levels of spending in major economies, the economic climate in Asia and the US, levels of marketing and promotional expenditure, actions of competitors and joint venture partners, employee costs, future exchange and interest rates, changes in tax rates, unexpected costs of integrating recently acquired businesses and future business combination or dispositions and other factors detailed in risk factors and elsewhere in CEVA and EGL's most recent Annual Reports, including but not restricted to the EGL Annual Report on Form 10-K. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize (or the consequences of such a development worsen), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. EGL and CEVA disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
CEVA Logistics to Handle Worldwide Forwarding Services for Powerwave