GEFCO has agreed to buy Spanish company GLT, a Europe-Morocco transport specialist. GEFCO said the acquisition would strengthen the company’s presence in the region at a time of fast-growing trade between Europe and Morocco in the Automotive and Retail & Fashion industries. The agreement between GLT and GEFCO is subject to approval by relevant regulatory authorities.
Founded in 1998, GLT is recognized as a specialist for fully secured exchange logistics flows in the strait of Gibraltar. GLT has developed strong partnerships with customers in Automotive and in Fashion.
The company is a leading operator of the gateway between Algeciras and Tangiers, ensuring over 16,000 crossings per year, with its 75 trucks and 380 trailers. It has one single management for the whole chain located in Oiartzun (Spanish Basque country, near Irun) and has proximity dispatch and fast maintenance centres in Tangiers and Algeciras.
GLT will be fully owned and managed by GEFCO Spain, as a specialized business entity for 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.
Luc Nadal, Chairman of the Management Board of GEFCO Group, said, “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.”
Source: GEFCO
