Kuehne + Nagel and VTG negotiate a merger of rail logistics activities
This merger represents an expansion of the long-term partnership that has existed between VTG and Kuehne + Nagel within the scope of their joint company Transpetrol for more than 20 years. The new joint venture would expand the present rail logistics activities of the partners, continuing the growth strategy of VTG Rail Logistics and enabling Kuehne + Nagel to offer its customers an extended product range. The goal is to strengthen the market position in the European rail logistics business. In addition, the transaction allows an expansion of the logistics solutions offered in the Industrial, Agricultural and Petrochemical Goods product segments. From a geographical point of view, the joint coverage area ranges all over Europe into Russia and Turkey.
The final contracts that will be worked out after signing the letter of intent are subject to the approval of the relevant corporate bodies and antitrust authorities. The decision is expected for the second half of 2013.
VTG Aktiengesellschaft is one of Europe’s leading railcar leasing and rail logistics companies. The company has the largest private railcar fleet in Europe. Globally, the fleet consists of some 54,100 railcars, 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 comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.
Further information: www.vtg.de
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