13.12.2009

Cargotec buys Moroccan dealer

Cargotec, owner of Hiab loader cranes and Kalmar reach stackers and gantry cranes, has acquired the port service and equipment related division of Maghrepic S.A. in Casablanca, Morocco.

Maghrepic was the distributor for Cargotec's products in Morocco for some time. Cargotec will take on 44 employees, most of whom are service technicians. The acquired business has annual revenues in the region €6 million.

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.

Mark Williamson, senior vice president, services, EMEA, said:” Global port operators and shipping companies have started to invest in Moroccan ports as well as strategically placed greenfield facilities. The country is located at the crossroads of important sea routes and the gateway between Africa and Europe.

“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 North Africa".