Paul, Weiss advised KKR’s portfolio company Goodpack on the deal
CEVA Logistics and Goodpack, which operates the world’s largest fleet of Intermediate Bulk Containers, have agreed to extend the long-term nature of their working relationship by entering into a strategic alliance. A key driver for the alliance is both companies’ desire to provide advanced digitisation and innovative solutions for the tyre industry. As part of this new alliance, the two companies have developed TYRECUBE(TM), an intelligent returnable container for tyres with data acquisition and track & trace capabilities.
Through the introduction of TYRECUBE, CEVA Logistics and Goodpack aim to collaborate on developing strategies and services for the efficient and safe transportation and storage of tyres across Asia, North America, Europe and Australia.
TYRECUBE is a patented collapsible and stackable container, providing an innovative method of moving tyres worldwide. By simplifying complicated movements characterized by short order-to-delivery cycles, the teams hope to deliver measurable value to the global tyre industry. Traditionally, the loose loading of tyres has been a very labour-intensive and manual process, with minimal automation and little visibility. TYRECUBE as transport and storage module helps avoid loose loading and provides a better protection of the tyres. TYRECUBE works for approximately 90% of all tyre types.
The Paul, Weiss team included corporate partner Alvaro Membrillera (Picture).
Involved fees earner: Alvaro Membrillera – Paul Weiss Rifkind Wharton & Garrison;
Law Firms: Paul Weiss Rifkind Wharton & Garrison;