MANN+HUMMEL extends contract with CEVA until 2017

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Printer-friendly versionPrinter-friendly versionPDF versionPDF version Deal cements longstanding 12 year partnership Warehousing space doubled due to growth in MANN+HUMMEL’S independent aftermarket business.Frankfurt, Germany, 4 February, 2014 – CEVA Logistics, one of the world’s leading supply chain companies, today announced the renewal of its contract with MANN+HUMMEL to 2017, one of the world’s leading experts for filtration solutions for the automotive and mechanical engineering industry. Since 2002 CEVA has exclusively operated the central warehouse for MANN+HUMMEL’s automotive aftermarket parts in Niederaichbach, which is located close to their production site in Marklkofen. The continuous growth of MANN+HUMMEL made an extension of capacities necessary and the new building with 17,000 sq m of space directly borders the central warehouse and is linked by a passageway. With the groundbreaking ceremony in August 2013 and the expected completion of the new site in 2014, the warehousing space will double to 34,000 sq m and will enable gains in efficiency by providing more room in the current storage area as well as capacity for future growth. Under terms of the deal, CEVA will be responsible for receiving, dispatching and picking in the central warehouse, before orchestrating all shipping and administration globally. On a daily basis CEVA will be picking and packing several hundred thousand oil and air filters before they leave the warehouse destined for more than 55 countries worldwide. With the extension, about 38,000 pallet spaces are available for the total of 3,500 inventory items. Thomas Mangold, Director Logistics Automotive Aftermarket and Manager of the central warehouse in Niederaichbach for MANN+HUMMEL, said: “By outsourcing the warehouse management to CEVA, we have significantly gained visibility and flexibility in our supply chain. This is essential for us, as we have to react quickly and agilely to short term changes. CEVA’s expertise in the Automotive and aftermarket sector enables us to achieve optimized inventory levels, which take into account growth rates and seasonal fluctuations, allowing us to offer a supply service of the highest level to our end customers.” “We are proud of our longstanding partnership with MANN+HUMMEL and the appreciation of our service that has been expressed with the contract renewal. Through systematic pursuit of our LEAN principles and our constant focus on operational excellence, we are able to deliver value to MANN+HUMMEL. We are glad that we can mutually grow and support MANN+HUMMEL with their requirements for a high level of supply service with efficient, cost effective solutions,” said Dr. Christian Wurst, Managing Director of CEVA in Germany. For more information contact: Sonja Steiner, CEVATel: +49 69 4898 34610Email: Sonja.Steiner@cevalogistics.com CEVA - Making business flow CEVA Logistics, one of the world’s leading non-asset based supply chain management companies, designs and implements industry leading solutions for large and medium-size national and multinational companies. Approximately 50,000 employees in more than 160 countries are dedicated to delivering effective and robust supply chain solutions across a variety of sectors where CEVA applies its operational expertise to provide best-in-class services across its integrated network. For more information, please visit www.cevalogistics.com About MANN+HUMMEL The MANN+HUMMEL Group is a leading global expert for filtration solutions and development partner and original equipment supplier to the international automotive and mechanical engineering industries. Employing 14,575 people at more than 50 locations worldwide, the company achieved turnover of about 2.6 billion euros in 2012. The group’s product portfolio includes air filter systems, intake manifold systems, liquid filter systems, cabin filters and plastic sound components (known as 'symposers'), as well as filter elements for vehicle servicing and repair. For general engineering, process engineering and industrial manufacturing sectors the company’s product range includes industrial filters, a series of products to reduce carbon emission levels in diesel engines, membrane filters for water filtration and filter systems. SAFE HARBOR STATEMENT: This news release may contain forward-looking statements.  These statements include, but are not limited to, discussions regarding industry outlook, the Company’s expectations regarding the performance of its business, its liquidity and capital resources, its guidance for 2013 and beyond, and the other non-historical statements. These statements can be identified by the use of words such as “believes” “anticipates,” “expects,” “intends,” “plans,” “continues,” “estimates,” “predicts,” “projects,” “forecasts,” and similar expressions. All forward-looking statements are based on management’s current expectations and beliefs only as of the date of this press release and, in addition to the assumptions specifically mentioned in the above paragraphs, there are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including the effect of local and national economic, credit and capital market conditions, a downturn in the industries in which we operate (including the automotive industry and the airfreight business), risks associated with the Company’s global operations, fluctuations and increases in fuel prices, the Company’s substantial indebtedness, restrictions contained in its debt agreements and risks that it will be unable to compete effectively.  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 annual and quarterly reports, available on the Company’s website, which investors are strongly encouraged to review.  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.  CEVA disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

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