Wednesday, December 4, 2013

Freight Forwarder and Rail Wagon and Multimodal Logistics Group Partner Up for European Development

Joint Venture Approved by Local Antitrust Authorities
Shipping News Feature

EUROPE – German based rail wagon hire and multimodal logistics company VTG Aktiengesellschaft has been granted approval from the German and Austrian antitrust authorities for its merger with certain rail transport operations of Swiss headquartered freight forwarder Kuehne + Nagel which we reported back in April, clearing the way for the launch of the joint venture on January 1, 2014, with VTG as the major shareholder in the partnership. Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft said:

“With the merging of our operations, we are further consolidating our position as Europe’s largest rail logistics company. With a concept that greatly expands our network of centres and needs-based solutions, we are pleased that we will be able to offer our customers a much-expanded range of services in the future. The preparations for the integration of the business are fully under way, so that we can begin operations as of January 1, 2014.”

The merger enables the expansion of services in the product segments of industrial, agricultural, and petrochemical goods. Geographically, the market activities of the joint venture extend from Western Europe as far as Russia and Turkey which the company says will give VTG Rail Logistics operational centres in the most important European markets. Currently VTG is the largest private rail wagon group in Europe with a global fleet consisting of some 52,700 wagons, with a focus on tank cars and state-of-the-art high capacity freight cars and flat cars. Additionally the company operates a specialist multimodal logistics division.