General Motors to transfer European logistics to Gefco
FRANKFURT (Reuters) - General Motors (GM.N: Quote) on Monday said it would transfer the lions share of its logistics business in Europe to Gefco a unit run by French auto maker Peugeot (PEUP.PA: Quote) effective 2013.
Late last month week Opel Chief Executive Karl-Friedrich Stracke said the alliance between Opel's parent company General Motors (GM.N: Quote) and Peugeot would now also include a cooperation between Opel and Gefco, Peugeot's car delivery group.
It is part of a broader alliance struck between GM and Peugeot in February, which the two companies hope will lead to at least $2 billion in annual savings from shared purchasing, logistics and the joint development and production of vehicles and parts.
(Reporting By Edward Taylor)
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