AAE Cargo purchases ZSSK Cargo rail cargo operation

AAE Cargo AG takes over majority in Slovak rail cargo operator Cargo Wagon and buys 12.450 cargo wagons owned by ZSSK Cargo

AAE Cargo AG, part of the AAE Group and leading hirer of standard cargo wagons in Europe, takes over 66 per cent of the shares in Cargo Wagon for 7 million Euros and thereby becomes majority shareholder of the cargo wagon operating company of the Slovak national rail operator. The remaining 34 per cent are purchased by ZSSK Cargo, the cargo division of the rail company.

The purchase of 12.450 cargo wagons from the ZSSK Cargo stock for a price of 180 million Euros is part of the deal. Cargo Wagon will manage the fleet and lease about 8.200 units back to ZSSK Cargo on a long-term basis.

„With the proceeds from the sales of the majority in Cargo Wagon and the sales of the wagons, ZSSK Cargo can take a major step towards the planned debt relief of the company”, explains Karsten Sachsenröder, CEO of the AAE Group. “The AAE Group has had close ties to Slovakia since 1989 and will use their know-how to reassess the fleet and work towards an optimised management.”

The basis for the AAE Cargo AG commitment in Cargo Wagon and for the take-over of the ZSSK Cargo cargo wagons was a Europe-wide  tender by the Slovak Department of Transport which was awarded to AAE Cargo AG. Karsten Sachsenröder: “The decisive factor besides the price we offered, was the overall concept with regard to the ensuing commercialisation, our long-term experience in this area as well as the fair partnership which we had with ZSSK and Slovakia for many decades.”

For AAE the Cargo Wagon acquisition is part of a diversification strategy with which the company expands their market services. “It was a good occasion to place additional customised services especially for the Eastern and Southeastern European market in future”, says Karsten Sachsenröder.

The AAE Group with headquarters in Baar (Switzerland) with their approximately 30.000 cargo wagons is one of the largest hirers of rail cargo wagons in Europe and market leader with regard to cargo wagons, especially in the fastest growing segment of intermodal transports road-rail-water. The company was founded in 1989 and it is their aim to continually increase the profitability and efficiency of the environmentally friendly carrier rail by using innovative products and services.

www.aae.ch/index.cfm   www.zscargo.sk/en/

Quelle: LogEastics
Portal: www.logistik-express.com