GEFCO acquires the Spanish company GLT
Global industrial and automotive logistics player GEFCO Group has announced the acquisition of Spanish company GLT, a Europe-Morocco transport specialist.
January 15, 2018: Global industrial and automotive logistics player GEFCO Group has announced the acquisition of Spanish company GLT, a Europe-Morocco transport specialist. According to a release from the company, the acquisition is crucial as GEFCO is strengthening its presence in the region at a time 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.
Founded in 1998, GLT is recognised as the specialist for fully secured exchange logistics flows in the strait of Gibraltar. GLT has a strong partnership 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 offers a very efficient 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 is also known for its expertise in managing connections between Europe and Maghreb countries. The acquisition of GLT will 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.
“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 seise the opportunities offered by these fast-scaling businesses,” said Luc Nadal, chairman of the management board of GEFCO Group.
The alignment of the businesses networks, expertise and customers will facilitate the operational and commercial merger between GLT and GEFCO. Teams in both companies share the same operational excellence and reliability culture. This will enable them to make this project a success quickly.
The complementarity between GLT and GEFCO businesses, regarding expertise, geographic network and client portfolio, will create value for all stakeholders: customers, partners, suppliers and employees.
“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,” stated Cristina Orbea, CEO of GLT.
GLT will be wholly owned and managed by GEFCO Spain, as a specialised business entity for Europe-Morocco Gateway. The Spanish subsidiary of GEFCO has 700 employees and 5,000 industrial clients.
The deal will be effective after completion of the usual regulatory formalities within the competent authorities.