DGAP-News: VTG Aktiengesellschaft: VTG enters grain transport market
(firmenpresse) - VTG Aktiengesellschaft / Acquisition/Mergers&Acquisitions
12.07.2010 18:03
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Press Release
VTG enters grain transport market
- Purchase of some 1,100 grain silo wagons from the Ermewa Group
- 75 percent share acquired in rail logistics company TMF
Hamburg, July 12, 2010. The Hamburg-based wagon hire and rail logistics
company VTG Aktiengesellschaft (WKN: VTG999) today signed contracts for the
purchase of some 1,100 grain silo wagons from Ermewa Ferroviaire SAS and to
buy a 75 percent shareholding in the French rail logistics company TMF S.A.
The 75 percent shareholding in grain transport and wagon hire operations
was a part of the Ermewa Group's operations. The contracting parties have
agreed not to disclose the purchase price. The contracts of sale remain
subject to approval by the antitrust authorities.
'With the purchase of the grain transport business and the grain silo
wagons of the Ermewa Group, we have scored an all-round coup, as we have
not only gained entry to the European grain wagon and logistics market but
are also again making use of the great synergies between our divisions of
Wagon Hire and Rail Logistics', comments Dr. Heiko Fischer, CEO of VTG
Aktiengesellschaft.
VTG is thus entering the lucrative European market for rail transport of
grain products on a considerable scale. This also represents a further step
towards diversifying the wagon fleet in transport markets that have basic
transport volumes with long-term stability. VTG already has initial
experience in this market in Spain and on routes between Germany and
Eastern Europe. Another way in which this move will strengthen the wagon
hire and rail logistics operations of the Group is through increasing the
capacity utilization of VTG's own repair workshop in France, while the
company's German construction plant, Waggonbau Graaff, will contribute its
expertise in the building of grain wagons.
VTG is purchasing Ermewa's 75 percent shareholding in TMF. The remaining 25
percent share in TMF is held by Express-Interfracht Internationale
Spedition GmbH, a subsidiary of Rail Cargo Austria. In addition, VTG is
buying approx. 1,100 used freight wagons for grain transport directly from
Ermewa. In 2009, TMF generated revenue of EUR 59 million and had 25
employees, mostly in France. The company also has three small subsidiaries
in Belgium, the Netherlands, and Germany. In 2009, TMF transported some 3
million tonnes of grain, making it one of the two largest French providers
in this market. France is one of Europe's largest grain markets, with a
high level of export within the region. Overall, the trend in the grain
market has been stable in recent years. The trend towards biofuels is also
increasingly benefiting the level of trade in and transport of grain.
About VTG:
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail
logistics companies. The company has the largest private wagon fleet in
Europe. Globally, the fleet consists of some 50,000 wagons, with a focus on
tank cars and state-of-the-art high capacity freight cars and flat cars. In
addition to the hiring of wagons, the Group offers global tank container
transports and comprehensivemulti-modal logistics services, mainly around
rail transport.
With the combination of its three interlinked divisions Wagon Hire, Rail
Logistics and Tank Container Logistics, VTG offers its customers a
high-performance platform for international transport of their freight. The
Group has many years of experience and specific expertise, in particular in
the transport of liquid and sensitive goods. Its customers include numerous
well-known companies from almost every industrial sector, for example the
chemical, petroleum, automotive and paper industries.
In the financial year 2009, VTG generated revenue of EUR 581.5 million and
operating profit (EBITDA) of EUR 149.4 million. Via its subsidiaries and
affiliates the company, which has its head office in Hamburg, is mainly
present in Europe, Asia and North America. As at 31 December 2009, VTG had
963 employees worldwide in consolidated companies. Since June 2007, VTG AG
has been listed on the official Prime Standard market of the Frankfurt
Stock Exchange and also on the SDAX (WKN: VTG999).
Media contact:
Tanja Laube
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
Email: tanja.laube(at)vtg.com
Yvonne Studier
PR Officer Trade Press
Telephone: +49 (0) 40 23 54-13 45
Fax: +49 (0) 40 23 54-13 40
Email: yvonne.studier(at)vtg.com
Investor Relations contact:
Felix Zander
Head of Investor Relations
Telephone: +49 (0) 40 23 54-1351
Fax: +49 (0) 40 23 54-1350
Email: felix.zander(at)vtg.com
For further information please go to www.vtg.com
12.07.2010 18:03 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: VTG Aktiengesellschaft
Nagelsweg 34
20097 Hamburg
Deutschland
Phone: 040 2354 0
Fax: 040 2354 1199
E-mail: info(at)vtg.de
Internet: www.vtg.de
ISIN: DE000VTG9999
WKN: VTG999
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 12.07.2010 - 18:03 Uhr
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