French group Geodis recapitalizes its Tangier Med subsidiary
23 July 2011
Read by 1855 persons
The contribution is intended to strengthen the self-financing of investments made for the new Tangier port platform. The group wants to make its Tangier site one of the key elements of its global logistics chain.
GEODIS TANGER MED.
The French group Geodis confirms its ambitions in the Moroccan market. Indeed, the global operator present in all the professions of the logistics chain has just strengthened, through a capital increase, the financial base of its Moroccan subsidiary Geodis Tangier Mediterranean (GTM). Also, initially, the capital was increased from 300,000 DH to 9.3 MDH before a reduction of 8.4 MDH by clearing previous losses (related to start-up costs) brought it back to 900 KDH.
This cash injection is intended to strengthen the self-financing of the significant investments made for the new Tangier port platform, which extends over 7,000 m2 and where the group has been established since 2009, knowing that its other subsidiary Geodis Wilson Maroc, which is part of its Freight Forwarding division (air and sea freight forwarding), has been present in Casablanca since 1995.
250 people employed in Morocco for a cumulative turnover of 100 MDH in 2010
In addition to financing the working capital requirement (recruitments, significant operating leases while the capacity utilization rate is not yet optimized…), the Geodis group invested in equipment, facilities, and information systems. It must be said that the number 4 in logistics services in Europe wants to make its Tangier site one of the key elements of its global logistics chain by taking advantage of its status as a strategic multimodal hub ideally located between the Mediterranean Sea and the Atlantic Ocean. With its 250 employees, Geodis's Moroccan entities carry out multiple supply chain and logistics management operations for their clients. The cumulative 2010 turnover of these two subsidiaries exceeded 100 MDH. As for the Geodis Group, which is controlled by the French public railway operator SNCF, it has more than 30,000 employees in 120 countries, including around forty African countries. In 2010, its consolidated turnover returned to strong growth (+31%) reaching €6.56 billion (more than 72 billion DH) for an operating result of €35.1 million (almost 390 MDH).
Published July 22, 2011.
Posted online July 23, 2011.
www.lavieeco.com
GEODIS TANGER MED.
The French group Geodis confirms its ambitions in the Moroccan market. Indeed, the global operator present in all the professions of the logistics chain has just strengthened, through a capital increase, the financial base of its Moroccan subsidiary Geodis Tangier Mediterranean (GTM). Also, initially, the capital was increased from 300,000 DH to 9.3 MDH before a reduction of 8.4 MDH by clearing previous losses (related to start-up costs) brought it back to 900 KDH.
This cash injection is intended to strengthen the self-financing of the significant investments made for the new Tangier port platform, which extends over 7,000 m2 and where the group has been established since 2009, knowing that its other subsidiary Geodis Wilson Maroc, which is part of its Freight Forwarding division (air and sea freight forwarding), has been present in Casablanca since 1995.
250 people employed in Morocco for a cumulative turnover of 100 MDH in 2010
In addition to financing the working capital requirement (recruitments, significant operating leases while the capacity utilization rate is not yet optimized…), the Geodis group invested in equipment, facilities, and information systems. It must be said that the number 4 in logistics services in Europe wants to make its Tangier site one of the key elements of its global logistics chain by taking advantage of its status as a strategic multimodal hub ideally located between the Mediterranean Sea and the Atlantic Ocean. With its 250 employees, Geodis's Moroccan entities carry out multiple supply chain and logistics management operations for their clients. The cumulative 2010 turnover of these two subsidiaries exceeded 100 MDH. As for the Geodis Group, which is controlled by the French public railway operator SNCF, it has more than 30,000 employees in 120 countries, including around forty African countries. In 2010, its consolidated turnover returned to strong growth (+31%) reaching €6.56 billion (more than 72 billion DH) for an operating result of €35.1 million (almost 390 MDH).
Published July 22, 2011.
Posted online July 23, 2011.
www.lavieeco.com
