Friday, January 12, 2018

Freight and Logistics Sector Sees Another Targeted Acquisition

Automotive Specialist Moves Into Moroccan Market
Shipping News Feature
FRANCE – SPAIN – MOROCCO – Acquisitions in the freight sector continue the pattern of the past couple of years as logistics group Gefco announce the purchase of Spanish company GLT, a Europe-Morocco transport specialist. Gefco says that the acquisition is of strong strategic value with the hopes of strengthening the company's presence in the region at a time which it says is a period of fast-growing trade between Europe and Morocco in the Automotive and Retail and Fashion industries. The agreement between GLT and Gefco is subject to approval by relevant regulatory authorities.

GLT was founded in 1998 and has developed strong partnerships with customers in Automotive and in Fashion, with offerings for exchange logistics flows in the strait of Gibraltar. Operating the gateway between Algeciras and Tangiers, the company oversees in excess of 16,000 crossings per year, with its 75 trucks and 380 trailers. It offers an operational setup and business model, with one single management for the whole chain located in Oiartzun (Spanish Basque country, near Irun) as well as proximity dispatch and fast maintenance centres in Tangiers and Algeciras.

Gefco says that it has developed over the years a strong expertise in managing connections between Europe and Maghreb countries. The acquisition of GLT is intended to enable Gefco to strengthen its position and expertise in the region, while consolidating and expanding its customer portfolio, particularly in the automotive and fashion and retail fields. Luc Nadal, Chairman of the Management Board of the Gefco Group, commented:

“With its fast-growing and dynamic industry, Morocco offers excellent prospects for our company. Some of our main customers in Automotive, Aeronautics, Retail & Industry are already investing heavily in the country to increase their production capacity, thereby generating the need for logistics support and reliable solutions. By capitalising on GLT’s know-how, we will be in the best position to seize the opportunities offered by these fast-scaling businesses,

“GLT is a strategic add-on to our network and capabilities. After the successful integration of IJS in 2015, the acquisition of GLT also reflects our capability to accelerate the profitable development of Gefco through selected acquisitions.”

GLT will be fully owned and managed by Gefco Spain, as a specialised business entity for the Europe-Morocco Gateway. The Spanish subsidiary of Gefco has more than 30 years of experience in high-level logistics, with 700 employees and 5,000 industrial clients. Cristina Orbea, CEO of GLT, observed:

“We are delighted to join Gefco, a global player in logistics with a strong international network and established expertise. We are confident that the combination of our knowledge and experience will ensure a better service for clients of the two companies and create the conditions for our businesses future growth.”