Tuesday, January 20, 2015

Logistics Group Extends Transalpine Rail Freight Interests

Forwarding Operation Buys Majority Stockholding in Swiss Carrier
Shipping News Feature

SWITZERLAND – GERMANY – The Rhenus group, headquartered in Holzwickede, Germany has announced it has taken a majority shareholding in Crossrail AG. Crossrail AG, headquartered in Muttenz near Basel and not to be confused with the current construction of the East/West London underground rail link, is a major Swiss rail carrier with offices in Belgium and Italy. Subject to the usual approval by European antitrust authorities, logistics firm Rhenus will take a 50.1% share in the company in a bid to expand its rail freight business.

Crossrail AG trades mostly on the transalpine routes serving the Netherlands and Germany as well as the three countries from which it operates. No details as to price was revealed but there are currently no plans to change the management team or move headquarters. Other principal shareholders such as LKW Walter, Hupac, Le Jeune Capital Partners, Bertschi and Mediterranean Shipping Company are said to be retaining their stakes in Crossrail. Michael Viefers, a Rhenus Management Board Member said:

“Crossrail has managed to develop successfully in a tough market environment during the last few years. The company with its range of traction services right across Europe will provide an ideal complement to our railway activities in the form of Rhenus Rail St. Ingbert and Niederrheinische Verkehrsbetriebe NIAG.”