Published 12 January 2018
Industrial and automotive logistics provider Gefco has agreed to acquire Spain-based transport specialist, GLT, for an undisclosed sum.
The deal is subject to approval from relevant regulatory authorities.?
The acquisition will allow Gefco to expand its services to the customers in the automotive and retail and fashion industries that conduct trade between Europe and Morocco.
GLT will be managed by Gefco Spain as a specialized business entity for Europe-Morocco gateway.
Established in 1998, GLT specializes in fully secured exchange logistics flows in the strait of Gibraltar.
With 75 trucks and 380 trailers, GLT manages whole chain center in Oiartzun, as well as proximity dispatch and fast maintenance centers in Tangiers and Algeciras.
GLT, which has around 700 employees and 5,000 industrial clients, carries out more than 16,000 crossings per year.
The firm mainly carries out operations in Spain, Morocco, Portugal, France, Germany, Belgium and the UK.
Gefco Group management board chairman Luc Nadal said: “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 CEO Cristina Orbea said: “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.”
Image: Gefco to acquire Spain-based transport specialist GLT. Photo: courtesy of GEFCO Group.
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