DGAP-News: VTG Aktiengesellschaft: VTG purchases the Railcraft group of companies - gateway to operations in the CIS and Baltic markets
(firmenpresse) - DGAP-News: VTG Aktiengesellschaft / Key word(s): Acquisition
VTG Aktiengesellschaft: VTG purchases the Railcraft group of companies
- gateway to operations in the CIS and Baltic markets
31.05.2011 / 11:00
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Press Release
VTG purchases the Railcraft group of companies - gateway to operations in
the CIS and Baltic markets
- Some 870 rail tank cars for mineral oil taken over together with client
list
- Development of the broad gauge business
- Experienced staff at all three sites
Hamburg, 31 May 2011. As of June 1st, 2011, VTG Aktiengesellschaft (WKN:
VTG999) will take over the Railcraft group of companies with offices in
Espoo, Finland, Moscow, Russia and Tallinn, Estonia. Railcraft rents out
its own and leased rail tank cars for mineral oil to customers in the CIS
and the Baltic States, in particular in Russia and the Ukraine. The parties
have agreed to keep the purchase price confidential.
'For us, the Railcraft takeover opens up an operations gateway into the CIS
and Baltic markets. This purchase enables us to continue expanding our
broad gauge wagon hire business', explains Dr. Heiko Fischer, CEO of VTG
Aktiengesellschaft. 'Altogether, this transaction affords us the
opportunity to enter the world's second largest railway market with a high
quality fleet, an experienced team, and an established customer base on a
clear basis and under limited risk conditions', adds Fischer.
Long freight routes, the special climate conditions, and the raw material
driven economy mean that railways are the backbone of the CIS transport
system. VTG had already taken these circumstances into account in 2008 with
the foundation of a subsidiary in Moscow. As early as the late 90s, VTG had
already developed rail tank cars capable of travelling on both the Russian
and the Western European railway network. The resulting know-how can be
incorporated into the new business. In addition, Railcraft's transport
agreement with the Russian Railways will in future also enable VTG's Rail
Logistics Division to offer freight rates within the CIS and the Baltic
without needing to resort to intermediaries.
Railcraft's own fleet comprises more than 560 wagons, and some 310
additional wagons are leased. The entire fleet is currently working at 100
percent utilisation. Railcraft was founded in 1998, so that many of its
customer relationships already date back to many years. By also taking over
all 14 fulltime employees of the Railcraft Group, seven of whom are based
in Russia, five in Estonia, and two in Finland, VTG can expand its business
activities with an experienced team.
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 comprehensive multi-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, paper and agricultural industries.
In the financial year 2010, VTG generated revenue of EUR 629.4 million and
operating profit (EBITDA) of EUR 154.4 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 2010, VTG had
999 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:
Monika Gabler
Head of Corporate Communications
Telephone: +49 (0) 40 23 54-1341
Fax: +49 (0) 40 23 54-1340
Email: monika.gabler(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
Further information at www.vtg.com
End of Corporate News
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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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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126870 31.05.2011
Datum: 31.05.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 34273
Anzahl Zeichen: 0
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Kategorie:
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