French-owned Gefco Group is planning to sell a 40% stake in its business this year. Car manufacturer Groupe PSA, which owns Peugeot, currently holds a 25% stake in the group after selling a 75% share of the firm to Russian Railways in 2012. Last month Gefco Group presented IPO documents for approval to AMF, France’s financial authority, which revealed that Russian Railways is looking to reduce its stake to below 50%. They also show that PSA plans to reduce its […]
Honda’s plans to close its Swindon plant in 2022 come as yet another blow to hauliers operating in the automotive sector with unions warning that the move will threaten thousands of supply chain jobs across the UK.
Gefco has signed a seven-year contract with General Motors to manage inbound and outbound logistics for the US car maker across Europe. As part of the deal, which starts in 2013, Gefco will supply GM assembly sites in the UK, Poland, Spain, Germany and Russia from European suppliers and worldwide export ports. It will then ship vehicles across the world, distributing around 1.2 million Opel, Vauxhall and Chevrolet vehicles annually. The logistics arm of PSA Peugeot Citroen, which is currently […]
Gefco, the logistics arm of PSA Group, saw its global revenue rise 12.9% in 2011 as it prepares to embark on what it describes as a “decisive year” for the company. For 2011 Gefco reported global revenue of €3.8bn, compared to €3.4bn a year ago, and an operating income of €223m (2010: €198m). Excluding its PSA business, revenue was up 19.2% to €1.4bn. In January Gefco revealed new contract wins with Chevrolet and HPC Healthline. A statement from the firm […]