Cargotec develops Africa gateway with Moroccan buyout
04 January 2010
Cargotec has acquired the port service and equipment segment of its Moroccan dealer Maghrepic S.A.
According to Cargotec, Maghrepic has many years experience in providing service and spare parts and the deal represents the Finland-based company's plans to expand sales and services in the north west African country. Cargotec will employ 44 staff, most of them service technicians, at the company which has sales of about €6 million (US$ 8.7 million) a year, it says.
El Mati Alem, Maghrepic's founder and president, will continue to own and manage the company's business activities which were not acquired by Cargotec. The parties have agreed not to disclose the purchase price.
"Global port operators and shipping companies have started to invest in Moroccan ports as well as strategically placed greenfield facilities as the country is located at the crossroads of important sea routes and the gateway between Africa and Europe," said Mark Williamson, Cargotec senior vice president, services, EMEA.
Cargotec has delivered Morocco Kalmar rubber-tyred gantry cranes as well as won maintenance contracts for container handling equipment. A local set-up will further support Cargotec's ability to serve its customers in the region and act as a springboard for additional business growth in the North Africa," added Williamson.