Transmec Group acquires TNA Cargo
Transmec Group enlarges its logistics network to North Africa with the acquisition of TNA Cargo and is approaching the milestone of 500 million euros in turnover.
An agreement was concluded for Transmec Group to acquire an initial 67% stake in TNA Cargo SpA, the Vicenza-based company that in twenty years of activity has achieved a leading position in transporting shipments between North Africa and Italy. An economic area with an interchange worth 30 billion euros and which will grow again by 25% in 2022.
Transmec Group has acquired TNA Cargo SpA, one of the most significant Italian transport and logistics companies in the markets of Tunisia and Morocco – with direct branches in Tangier and Tunis, as well as the main Italian ports of the Tyrrhenian Sea, a consolidated turnover of 38 million euros, a fleet of over 500 trailers and customs dedicated services for the transport of temperature-controlled goods.
The acquisition process will take place in two steps: the first, which took place in August, is equivalent to the acquisition of 67% of TNA Cargo SpA and the second, expected in 2023, will end with the total 100% control of the share capital of the Vicenza company of which the founder, Germano Garbin will maintain the management in the role of CEO.
“North Africa is an economic area of a great strategic value for the whole of Europe both for energy, food and industrial supplies in the automotive, textile and bio-medical sectors – states Danilo Montecchi, CEO of Transmec Group – The manufacturing capacity and expertise of this area has grown significantly and it is now able to compete with the Far East, with significantly reduced transport costs and transit times.Thanks to the acquisition of TNA Cargo, Transmec Group offers an opportunity for diversification and growth to all its Italian and international customers through a network capable of integrating Europe and North Africa in a direct and coordinated way”.
Trade between North Africa and Italy reached 29.9 billion euros in 2021 (11.8 exports from Italy and 18.1 imports from North Africa) and Tunisia represents 12.4% and 30.1% respectively, with Morocco accounting for 6.7% and 12.4%. The forecast for 2022 is a growth of 25% in all the most significant industrial sectors. The Italian presence in Tunisia (about 400 companies) and Morocco (220) is significant and qualified.
“From a business point of view, Transmec Group has been for TNA Cargo SpA the most consistent choice for continuity and development – said Germano Garbin regarding the acquisition. “TNA Cargo SpA will have the chance to become even stronger thanks to the diversity of services offered by Transmec (road, intermodal, air/sea, logistics and IT solutions) and increased presence in the connections between North Africa and all European countries”.
Source: Transmec Group