Published: 12 October 2007 12 October 2007
Gamesa Corporación Tecnológica and Bergé Negocios Marítimos have joined forces to set up Compass Transworld Logistics, S.A. (CTL) with 51% and 49% stakes respectively.
Gamesa and CTL have entered into a service provision agreement for the next five years. Services amounting to € 150 to € 175 million per year will be managed through this agreement. The joint venture will ship Gamesa's finished products manufactured at its Spanish plants to ports in the United States and China, as well as to their final destination in the rest of the world. Gamesa has handled the shipping of its finished products up to now. The performance of this agreement is a further step forward in the strategic alliance program with suppliers set out in the 2006-2008 Business Plan.