Gefco’s division in Dubai has extended its contract with GK Automotive, which distributes Hyundai vehicles in Iraq, for another three years. The company has been responsible for GK Automotive's logistics operations there since June 2013.
Gefco handles the vehicles on import from South Korea on bi-weekly basis at its storage site in the Jebel Ali Free Zone in Dubai, including customs clearance and onward distribution to dealerships across the country. The company is processing and distributing around 25,000 vehicles a year involving all Hyundai passenger cars and pickups.
“We are delighted to be continuing our partnership with GK Automotive,” said Stefano Polloti, managing director of Gefco Dubai. “Our strategic geographical location combined with our cutting-edge logistics infrastructures enables our customers in the region to benefit from all of the Gefco Group’s expertise and personalised support.”
GK Automotive is a $72m joint venture between GB Auto, which distributes Hyundai vehicles and commercial vehicles in the Egyptian market, and Al- Kasid, which holds exclusive rights to distribute Hyundai vehicles in Iraq. The venture has a wholly owned subsidiary responsible for distributing Hyundai vehicles across Iraq.
Last year Hyundai sold 23,430 units in Iraq and in the first six months of 2014 the figure had reached 11,495.
Gefco has a similar contract with NIM, the importer in Iraq for Kia, moving similar volumes. That contract, signed initially for two years, started in March this year following the set up of its headquarters in Dubai the previous month.
It also has a contract with MAC, which imports vehicles to Iraq for Chevrolet, for compound management in Dubai
In addition, Gefco has business on a spot basis with different dealers in the Gulf Cooperation Council for various brands including Alfa Romeo, Toyota and Maxus.
