Ferrexpo announces incorporation of Helogistics Holding
Change of the ownership of the parent company of Erste Donau-Dampfschiffahrts GmbH and Mahart Duna Cargo Kft.
Helogistics Holding starts with a new owner into the year 2011. The corporate group Ferrexpo, rooted in the resources sector, has acquired 100 per cent of the share capital of the company for EUR 28.5 million cash. This includes the acquisition of the existing bank debt at a face value of EUR 72.1 million. Ferrexpo-Chairman Michael Abraham explains this acquisition as part of their strategy to strive for further strengthening their logistics structures in Central and Eastern Europe. Ferrexpo is a Swiss headquartered resources company, listed on the London Stock Exchange. In Ukraine the enterprise is principally involved in the production and export of iron ore pellets, used in the steel industry around the globe. Current output is approximately 9.5 million tonnes per year. Helogistics is the parent company of Erste Donau Dampfschifffahrts GmbH (Vienna) and Mahart Duna Cargo Kft (Budapest). The corporate group operates 253 river vessels that transport raw material as well as finished and semi-finished goods on the 3,500 km-waterway between Rotterdam and the Black Sea. The dry bulk shipping segment is predominated by the transport of agricultural products, resources, semi-finished products and containers. As for tank shipping the focus lies on mineral oil products. Their locations are situated in Vienna, Linz, Regensburg, Bratislava, Budapest, Belgrade, Izmail and Constanza. Including leasing crews the enterprise employs approximately 600 people. In the period from January to November 2010, Helogistics has transported approximately 575,000 tons of Ferrexpo pellets. Quelle: LogEastics |