Mergers and acquisitions

Gefco completes buyout of GLT

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Gefco trucksGefco has finalised its purchase of Moroccan transport company GLT, after European regulatory approval was granted for the takeover.

As announced at the beginning of the year, Gefco’s division in Spain will own and manage GLT. The move is designed to improve services between Europe and Morocco, including for the automotive sector.

GLT handles logistics through the strait of Gibraltar and is the leading operator of the gateway between Algeciras and Tangiers. The company carries out over 16,000 crossings a year, with 75 trucks and 380 trailers.

Luc Nadal, chairman of the management board of Gefco, commented: “We are very pleased to have completed the acquisition of GLT. GLT brings over two decades of strong expertise in logistics flows between Europe and Morocco.”

All current GLT employees are transferring to Gefco. “We are happy to welcome all GLT employees to the Gefco Group and we look forward to combining our operational know-how to create more value for our customers,” said Nadal.

In July this year, Gefco announced it was setting up a joint venture with Spanish logistics provider Bergé to strengthen finished vehicle operations in the country, offering including transport, technical services, inspection and delivery.