The Gefco group, a global player in industrial logistics, announced the acquisition of Spanish company GLT, a Europe-Morocco transport specialist. Founded in 1998, 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, based on locations in Oiartzun (near Irun) as well as in Tangiers and Algeciras.
The acquisition is of strong strategic value to GEFCO, strengthening 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. The deal will be effective after completion of the usual regulatory formalities within the competent authorities.
Gefco has developed over the years a strong expertise in managing connections between Europe and Maghreb countries. The acquisition of GLT will to strengthen the position and expertise in the region, while consolidating and expanding the customer portfolio, particularly in the automotive and fashion & retail fields.
“With its fast-growing and dynamic industry, Morocco offers excellent prospects for 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, 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 seize the opportunities offered by these fast-scaling businesses”.
GLT will be fully owned and managed by Gefco Spain. The Spanish subsidiary has more than 30 years of experience in high-level logistics, with 700 employees and 5,000 industrial clients.
Facts and figures of GLT:
Established in: 1998
Number of employees: 229
Founder: Pierre & Christine Dartiguelongue and Mikel Orbea
Headquarters: Oiartzun
Offices: Madrid, Algeciras, Tangiers, Lisboa
Main countries of operation: Spain, Morocco, Portugal, France, Germany, Belgium, United Kingdom
Turnover: EUR 35 million (2017 outlook)
Key sectors: automotive, fashion
