Cargotec boosts sales activities in Morocco
Created 12/30/2009, 01:03:23 pm
According to the agreement, Maghrepic founder and president El Mati Alem will continue to own and manage the company’s business activities that were not acquired by Cargotec. Both parties have agreed not to disclose the purchase price.
"Global port operators and shipping companies have started investing in Moroccan ports and strategically-placed greenfield facilities as the country is located at the crossroads of important sea routes and the gateway between Africa and Europe," says Mark Williamson, Cargotec’s senior vice president for services in the Europe, Middle East and Africa region.
Cargotec will employ 44 people, mostly service technicians. The acquisition is a part of Cargotec’s goal to grow sales and service activities in Morocco.
Sales of the acquired business in 2010 are estimated to be about EUR6 million (USD8.6 million).
source: forkliftaction.com
