Gefco reports gains in automotive beyond core PSA contracts

Gefco has reported annual revenue gains of 5.1% in its full-year results for 2017, earning €4.4 billion ($5.4 billion). Sales were supported by a 8.1% growth in global automotive accounts outside of its traditional activity for former parent company Groupe PSA (which now includes GM’s Opel/Vauxhall divisions). The company noted “significant contract wins” in what it described as its Market Clients segment, notably with Jaguar Land Rover (JLR), for which it is sequencing components to the Halewood plant in the UK from a new £10m ($13.2m) near Liverpool, as well as VW, Tesla, Audi, Volvo and Renault-Nissan. It also secured new business with repair company Carglass and London Electric Vehicles, the UK-based taxi maker owned by Chinese vehicle maker Geely.

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