Cargotec Boosts Presence in Morocco

Cargotec has strengthened its sales and service activities in Morocco by acquiring the port service and equipment related part of Maghrepic business operations. The latter has been the former’s dealer representative in Morocco with experience in service and spare parts.

According to the deal, Cargotec will employ 44 persons, most of whom are service technicians. The acquisition supports the company’s aim to grow sales and service activities in Morocco.

The sales of the acquired business in 2010 are estimated to be around EUR 6 million. According to the agreement, 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.

Cargotec, www.cargotec.com