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28 May 2007
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CMA CGM finalizes COMANAV acquisition
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CMA CGM has officially acquired Moroccan maritime shipping company Comanav following publication of the privatization order signed by Prime Minister Driss Jettou.
The company was officially transferred today in a ceremony held in Rabat led by Fathallah Oualalou, Finance and Privatization Minister, along with Jacques R. Saadé, Chairman of CMA CGM.
Created in 1946, Comanav is Morocco’s leader in transporting freight and passengers and managing port operations.
Comanav has developed strong market positions in each of its three main sectors of activity:
1) Maritime transport of goods with regularly scheduled services provided by a fleet of vessels deployed in the Atlantic and Mediterranean, mainly for container, ro/ro and conventional cargo;
2) Port activities through its presence at the Tanger-Med terminal and as part of Somaport, which operates two terminals in the port of Casablanca;
3) Passenger transport with five lines operating between Morocco and Europe, and a fleet of nine car ferries. With annual traffic totaling 800,000 passengers, Comanav is Morocco’s undisputed leader in passenger transport.
This transaction will enable CMA CGM to strengthen its position in shipping lines and port activities in Morocco. With the acquisition of a company in this region, CMA CGM gains a geographic advantage, putting it in a position to offer CMA CGM and Comanav customers more comprehensive cargo services between Morocco and Europe and enhanced passenger services on the Mediterranean.
CMA CGM has been present in Morocco for over 20 years and operates five weekly container shipping services from/to ports in North Europe (Le Havre, Antwerp, Rouen, Dunkirk and Rotterdam), the Mediterranean (Marseilles, Malta) and the ports of Agadir, Casablanca and Tangier.
The Group has also invested in port operations in Casablanca and Tangier.
CMA CGM, a global container shipping company, plans to capitalize on the natural synergy between both companies to develop its network of services and shipping volume to Morocco.
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CMA CGM |
COMANAV.SA |
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| 2006 |
| Turnover |
$ 8.42 billion US |
$ 200 million US |
| Volume transported |
6 million TEUs* |
60,000 TEUs
800,000 passengers
45,000 ro/ro units
200,000 tons of other freight |
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| As of May 18, 2007 |
| Vessel fleet |
337 including 96 company-owned |
16 including 11 company-owned |
| Vessel capacity |
804,000 TEUs |
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| Container fleet |
1,300,000 |
2,750 TEUs |
| Ferry fleet |
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7,400 passengers
2,200 cars |
| Employees worldwide |
12,000
(including 4,000 in France) |
2,800 |
*TEU = twenty-feet equivalent units
About CMA CGM Led by its founder Jacques R. Saadé, CMA CGM is currently the world’s third largest container shipping company and is ranked number one in France. Operating a fleet of 337 vessels, including 96 company-owned, the Group serves 400 ports of call around the world. In 2006 it carried a total of six million TEUs (twenty-foot equivalent units). With a presence on all continents and in 150 countries through its network of 600 agencies, the Group employs 12,000 people including 4,000 in France.
Press contact:
CMA CGM Communications Division
+ 33 (0) 4 88 91 66 61
media@cma-cgm.com |
COMANAV
+ 212 22 46 44 16
laaziz@comanav.co.ma |
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| Contact: Corporate Communication - Marseilles |
| Phone: +33 (0)4 88 91 90 00 - Email: media@cma-cgm.com |
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