Gefco Group has acquired GLT, a European-Moroccan transport specialist, subject to approval by relevant regulatory authorities.
Founded in 1998, GLT specialises in logistics across the Strait of Gibraltar, developing partnerships with customers in the automotive and fashion sectors.
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The company operates the gateway between Algeciras and Tangiers, ensuring more than 16,000 crossings per year with 75 lorries and 380 trailers. It has one single management for the whole chain located in Oiartzun (Spanish Basque country, near Irun) as well as proximity dispatch and maintenance centres in Tangiers and Algeciras.
“With its fast-growing and dynamic industry, Morocco offers excellent prospects for our company”, said Gefco chairman, Luc Nadal.
“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 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 logistics, with 700 employees and 5,000 industrial clients.
“GLT is a strategic add-on to our network and capabilities,” added Nadal. “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.”
The deal will be effective after completion of the usual regulatory formalities with the competent authorities.
