Paris-based global logistics group Gefco has confirmed its acquisition of Spanish transport logistics company GLT, the Handy Shipping Guide reports. This is seen as a move by Gefco to solidify its presence in the Moroccan market.
At the time when GLT was originally founded back in 1998, most of the company’s customers were moving goods in the area of the strait of Gibraltar. Most of its current clients are in the automotive and fashion industries, overseeing more than 16,000 crossings per year between Tangiers and Algeciras in Spain.
GLT’s fleet consists of about 380 trailers and 75 trucks with most of its central operations running at its headquarters in Oiartzun right in the heart of Basque country. Most of the proximity dispatch is conducted in its maintenance centers based in Algeciras and Tangiers. A centralized operational model has kept the company running for almost 2 decades.
The agreement is subject to approval by regulatory authorities. While Gefco has managed to prove itself in the logistics sector servicing parts of Europe and the Maghreb countries, its stronghold in the region is expected to strengthen through its acquisition of GLT, which is a key player in the Europe to Morocco gateway.
Gefco Group’s Chairman, Luc Nadal, foresees growth for the company based on the business opportunities that will open up with GLT serving as its key.
“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 capitalizing on GLT’s know-how, we will be in the best position to seize the opportunities offered by these fast-scaling businesses.”
GLT’s chief executive officer, Cristina Orbea, noted, “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.”
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