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Key player in Europe – Morocco gateway will be fully owned and managed by GEFCO Spain
GEFCO has announced the acquisition of GLT, a European-Moroccan transport specialist. The strategic acquisition, subject to approval by relevant regulatory authorities, strengthens GEFCO’s presence in the region at a time of fast-growing trade between Europe and Morocco in the automotive and retail / fashion industries.
GLT has established a strong reputation in the market over two decades of operation. Founded in 1998, the business is recognised as the specialist for fully secured exchange logistics flows in the strait of Gibraltar, developing partnerships with customers in the automotive and fashion sectors. GLT operates with 229 employees from its HQ in Oiartzun and offices in Madrid, Algeciras, Tangiers and Lisboa. Its main countries of operation are Spain, Morocco, Portugal, France, Germany, Belgium and the UK. Projected 2017 turnover is €35.0 million. The Company is a leading operator of the gateway between Algeciras and Tangiers, ensuring over 16,000 crossings per year with 75 trucks and 380 trailers. It offers an 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 has developed a robust 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.
Some of GEFCO’S main customers in Automotive, Aeronautics, Retail & Industry are already investing heavily in Morocco to increase their production capacity, thereby generating the need for logistics support and reliable solutions. By capitalising on GLT’s know-how, GEFCO will be in the best position to seize the opportunities offered by these fast-scaling businesses.
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 quickly make this project a success. The compatibility between the GLT and GEFCO businesses, in terms of expertise, geographic network and client portfolio, will create value for all stakeholders, customers, partners, suppliers and employees.
GLT will be fully owned and managed by GEFCO Spain, as a specialised 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. 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.