GEFCO announcesthe acquisition ofglt, a key plazer in The Europe-Morocco gateway

GEFCO Group, a global player in industrial logistics and European leader in automotive logistics, announces today the acquisition of Spanish company GLT, a Europe-Morocco transport specialist. The acquisition is of strong strategic value to GEFCO, strengthening the company’s presence in the region at a time of fast-growing tradebetween Europe and Morocco in the Automotive and Retail & Fashion industries.The agreement between GLT and GEFCO is subject to approval by relevant regulatory authorities.

GLT, a recognized specialist and leader inthe strait of Gibraltar crossing

The outlook forthe merger between GEFCO and GLT is promising, withthe Spanish company having established a strongprofessional reputation in the market over two decades of operation. Founded in 1998, GLT is recognized as the 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 380trailers. 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 centers in Tangiers and Algeciras.

A need for logistics support in a fast-growing economy

GEFCO has developed over the years a strong 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& retail fields.

– With its fast-growing and dynamic industry, Morocco offers excellent prospectsfor our company –  said Luc Nadal, Chairman of the Management Board of GEFCO Group.

– Some of our main customers in Automotive, Aeronautics, Retail & Industry are already investing heavily in the country to increase their production capacity, therebygeneratingthe 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-scalingbusinesses”.

The alignment of the businesses networks, expertise and customers will facilitate the operational and commercial merger between GLT and GEFCO. Teams in bothcompanies share the same operational excellence and reliability culture.This will enable them to quickly makethis project a success.

A targeted acquisitions plan, aiming at a profitable growth

The complementaritybetween GLT and GEFCO businesses, in terms of 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 – stated Cristina Orbea,CEO of GLT.

– We are confident that the combination of our knowledge and experience will ensure a better service for clientsof the two companies and create the conditions for our businesses future growth.

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 industrialclients. All the GLT team will be committed, from their current offices, to maintaining the level of service, reliability and safety for all its customers and ensuring new developments.

– 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 developmentofGEFCO through selected acquisitions –  concluded Luc Nadal, Chairman of the Management Board of GEFCO Group.

The deal will be effective after completion of the usual regulatory formalities within the competent authorities.

 

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