Railion acquires RAG's logistics activities
Railion acquires RAG's logistics activities
Stinnes’ subsidiary, Railion Deutschland AG, has signed a purchase contract for the acquisition of RAG Bahn und Hafen GmbH, Gladbeck (RBH), a wholly-owned, indirect subsidiary of RAG, and its shareholding in DAP Barging BV, Rotterdam, for an undisclosed purchase price. (1/19/2005)
The contract takes effect retroactively to January 1st, 2005. The sale is subject to the necessary approval from the German Federal Cartel Office and the Supervisory Board of Deutsche Bahn AG.
RAG's logistics business that has now been sold employs some 950 people. The company held a 55% share in DAP Barging BV, a broker for cargo space on barges in the regions of Amsterdam, Rotterdam and Antwerp. RBH has a fleet of 110 locomotives and 2,300 freight wagons of its own. Each year, a total volume of around 48 million metric tons of bulk are transshipped, transported and stored in intermediate storage facilities.
“With the acquisition of the two RAG companies, the Railion Group will expand its position in Europe-wide bulk logistics and strengthen its relations with one of our key customers,” said Dr Bernd Malmström, chairman of the supervisory board of Railion Deutschland AG and chairman of the management board of the Transportation & Logistics Corporate Division of Deutsche Bahn AG. “From an overall perspective, the transaction will contribute to strengthening rail freight services.”
According to Christoph Dänzer-Vanotti, board member of RAG Coal International and the man responsible for, among other things, the company's logistics activities, a smooth and reliable handling of internal traffic on the company's site and transport services for external RAG customers has been secured in the long term by the purchasers.
Stinnes’ subsidiary, Railion Deutschland AG, has signed a purchase contract for the acquisition of RAG Bahn und Hafen GmbH, Gladbeck (RBH), a wholly-owned, indirect subsidiary of RAG, and its shareholding in DAP Barging BV, Rotterdam, for an undisclosed purchase price. (1/19/2005)
The contract takes effect retroactively to January 1st, 2005. The sale is subject to the necessary approval from the German Federal Cartel Office and the Supervisory Board of Deutsche Bahn AG.
RAG's logistics business that has now been sold employs some 950 people. The company held a 55% share in DAP Barging BV, a broker for cargo space on barges in the regions of Amsterdam, Rotterdam and Antwerp. RBH has a fleet of 110 locomotives and 2,300 freight wagons of its own. Each year, a total volume of around 48 million metric tons of bulk are transshipped, transported and stored in intermediate storage facilities.
“With the acquisition of the two RAG companies, the Railion Group will expand its position in Europe-wide bulk logistics and strengthen its relations with one of our key customers,” said Dr Bernd Malmström, chairman of the supervisory board of Railion Deutschland AG and chairman of the management board of the Transportation & Logistics Corporate Division of Deutsche Bahn AG. “From an overall perspective, the transaction will contribute to strengthening rail freight services.”
According to Christoph Dänzer-Vanotti, board member of RAG Coal International and the man responsible for, among other things, the company's logistics activities, a smooth and reliable handling of internal traffic on the company's site and transport services for external RAG customers has been secured in the long term by the purchasers.