General Motors on Monday said it would transfer the majority of GM’s logistics business in Europe to Gefco, a unit of France’s PSA Peugeot Citroen.
“This is the first step in leveraging synergies from the comprehensive alliance with PSA Peugeot Citroen. The logistics deal will lead to efficiency improvments and cost savings for GM,” Vice Chairman Stephen Girsky said in a statement.
Philippe Varin, Chairman of the Managing Board of PSA Peugeot Citroen, added: “This agreement is the first step in our long term strategic alliance with GM. It enables Gefco to continue its strategy of broadening its existing client base and growing its global business operations.”
The agreement will impact the majority of the Opel/Vauxhall, Chevrolet and Cadillac logistics activities in Europe including Russia and includes services such as material and component deliveries to manufacturing plants, delivery of finished vehicles to dealerships and the transport of aftersales spare parts to distribution centers.
The new logistics agreement between GM and Gefco would take effect in 2013.
Gefco, is a large international logistics company, wholly owned by PSA. It was established by Peugeot in 1949 and was originally named Les Groupages Express de Franche-Comté.
GEFCO is one of the top 10 transport and logistics groups in Europe. The group is now a world leader in automotive logistics and a benchmark in industrial logistics.
The group has a workforce of 10,300 following the integration of Gruppo Mercurio. With over 300 business locations worldwide, GEFCO is developing its activities in Central Asia, Central and Eastern Europe, Asia, the Middle East, Eastern Asia and South America.