JSC Russian Railways (RZD), is in talks to buy 75% of Gefco, the logistics arm of cash-strapped car maker PSA Peugeot Citroën for €800m (£640m). PSA Peugeot Citroën said the proposed deal should speed Gefco’s growth by creating a business with enhanced reach in logistics services linking Europe and Asia. The existing management team, led by its president Luc Nadal, will not change, it added. Vitaly Belskiy, from consultancy Frost & Sullivan, said: “The deal is a clear ‘win-win’ for […]
German automotive product supplier Brose has extended its contract with Gefco by three years. The new part of the contract will see Gefco deliver products from Brose’s production site in Coventry to one of its customers in Redditch. The original contract, held since 2005, already sees Gefco deliver vehicle seat frames to its Coventry site. The operator will initially use its own fleet, but as volumes grow Gefco will provide dedicated vehicles in the Brose livery. Gefco UK sales and […]
Same day courier firm CitySprint has completed its third acquisition this year with its purchase of Enfield-based The Courier Service.