Kuehne + Nagel and VTG to form alliance in rail transport

Negotiations of Kuehne + Nagel and VTG about closing ranks in rail logistics with the objective of promoting the market position
 
VTG Aktiengesellschaft, a leading European wagon hire and rail logistics enterprise, and the logistics enterprise Kuehne + Nagel plan to merge parts of their railway operations. Both parties signed a declaration of intent, concerning a majority holding in VTG. Final agreements, with details being defined consequently to the signing of the declaration of intent, are subject to the approval of the boards and competition authorities. A decision is expected to be made in the second half of the year 2013.
 
This merger represents an expansion of the 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”, reads a joint press release.
 
Their 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.

Quelle: LogEastics

Portal: www.logistik-express.com