CMA CGM's finance chief expects profit for Ceva Logistics this year

Even though the coronavirus has created a lot of uncertainty about developments in the global economy, CMA CGM Chief Financial Officer Michel Sirat is convinced that Ceva Logistics can become profitable this year, he tells ShippingWatch.

CMA CGM acquired Swiss-based Ceva Logistics in late 2018. | Photo: Ceva Logistics

The acquisition of Swiss logistics company Ceva Logistics in late 2018 did not develop quite as French container major CMA CGM had hoped.

The takeover of the Geneva-based business for USD 1.7 billion put such a strain on the shipping line's debt that credit rating bureaus and banks found the level critical. It also proved difficult to get the business running smoothly.

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