OREANDA-NEWS. May 05, 2011. The French GEFCO group, which ranks among the largest transit and logistics operators worldwide, is planning to open its representation in Estonia in the fourth quarter of this year, the daily Aripaev reported.

A holding of the French auto group PSA Peugeot-Citroen, GEFCO already has representations in Latvia and Lithuania.

For GEFCO ports of the Baltic countries are an area where to develop transit corridors from Europe and America to Central Asia. In Central Asia GEFCO's focus of attention is on Kazakhstan, GEFCO said.

"Right now negotiations are under way with a successful and rapidly developing Estonian logistics company that in certain directions of activity is representing the interests of  GEFCO Baltic in Estonia," the sales and marketing director for GEFCO Baltic, Dmitri Solovjov, said.

The Estonian representation is seen to help GEFCO expand its business also to Finland, the report said.

GEFCO Baltic, the group's subsidiary established in 2008, posted a turnover of 18 million euros for 2010 and increased their number of employees from 16 to 26 during the year, according to an earlier press release by GEFCO.