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 co...