January 07, 2021: CEVA Logistics' strategic expansion plan across the African continent is further gathering pace with the acquisition of ASTI Group in Morocco. CEVA Logistics' CEO Mathieu Friedberg, said, "The acquisition of ASTI further enhances our standing in the African market and shows our ambition for the continent as a whole. The new operation will be looking to capitalise on the strength of the automotive industry in the country, a vertical in which CEVA Logistics is a market-leader. Ahmed Belmrah, CEO and founder of ASTI Group, added, "The sale of ASTI to CEVA Logistics is the logical continuation of our historic partnership and constitutes an important step in the strategic development of CEVA Logistics in both Morocco and Africa." Salim Benchehla, ASTI Group shareholder and managing director of CEVA Logistics Morocco, stated, "I am convinced this takeover will allow CEVA Logistics to become one of the leading players in Morocco with a full portfolio of services offering optimal conditions for developing business partnerships with our clients."

Source: The North Africa Journal January 07, 2021 10:07 UTC