Transmec widens bridge to North Africa
The Italian family-run company Transmec Group is acquiring Vicenza-based TNA Cargo. This purchase will not only enlarge its network, but also help Transmec approach the threshold of EUR 500 million in annual turnover.
A first agreement covers the acquisition of a 67% stake in TNA Cargo, which looks back on twenty years of transporting shipments between North Africa and Italy. The second move, planned for 2023, will end with the total takeover of 100% of the shares of the company, of which the founder, Germano Garbin, will stay on board as CEO.
TNA Cargo’s assets are a long presence in the Tunisian and Moroccan markets with direct branches in Tangier, Tunis and the main Italian ports of the Tyrrhenian Sea, a consolidated turnover of EUR 38 million per year, a fleet of over 500 trailers and customs dedicated services for the transport of temperature-controlled goods.
“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," said Danilo Montecchi, CEO of Transmec Group.
Currently, the economic area has an interchange worth EUR 30 billion, which is expected to increase by another 25% in 2022.
Trade between North Africa and Italy reached EUR 29.9 billion in 2021 (EUR 11.8 billion in exports from Italy and EUR 18.1 billion in imports from North Africa). Tunisia accounts for 12.4% of the exports and 30.1% of the imports, while Morocco generates 6.7% and 12.4%, respectively. The forecast for 2022 is a 25% growth in all the most significant industrial sectors. (cd)