DGAP-News: VTG Aktiengesellschaft: VTG increases TMF shareholding to 100 percent
VTG Aktiengesellschaft / Key word(s): Acquisition
VTG increases TMF shareholding to 100 percent
Hamburg, September 6, 2010. The Hamburg wagon hire and rail logistics company VTG Aktiengesellschaft (WKN: VTG999) today increased its shareholding in the French rail logistics company TMF S.A. from 75 percent to 100 percent. The contract of sale was signed with Express-Interfracht Internationale Spedition GmbH, a subsidiary of Rail Cargo Austria. The contracting parties have agreed not to disclose the purchase price.
In July of this year, VTG announced the takeover of 75 percent of the shares in TMF held by the company Ermewa. Approval for this was granted by the antitrust authorities on September 1, 2010. The closing of this transaction was completed on September 30, 2010. With the purchase of the remaining 25 percent of shares, VTG has now taken over the TMF company in its entirety. A further antitrust approval was not necessary.
In 2009, TMF achieved sales of EUR 59 million and employed a staff of 25, mainly in France. The company is also represented in Belgium, the Netherlands and Germany through three small subsidiaries. In 2009, TMF transported some 3 million tonnes of grain, making it one of the two major French providers in this market.
VTG Aktiengesellschaft is one of Europe's leading wagon hire and rail logistics companies. The company has the largest private wagon fleet in Europe. Globally, the fleet consists of some 50,000 wagons, with a focus on tank cars and state-of-the-art high capacity freight cars and flat cars. In addition to the hiring of wagons, the Group offers global tank container transports and comprehensive multi-modal logistics services, mainly around rail transport.
With the combination of its three interlinked divisions Wagon Hire, Rail Logistics and Tank Container Logistics, VTG offers its customers a high-performance platform for international transport of their freight. The Group has many years of experience and specific expertise, in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost every industrial sector, for example the chemical, petroleum, automotive, paper and agricultural industries.
In the financial year 2009, VTG generated revenue of EUR 581.5 million and operating profit (EBITDA) of EUR 149.4 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia and North America. As at 31 December 2009, VTG had 963 employees worldwide in consolidated companies. Since June 2007, VTG AG has been listed on the official Prime Standard market of the Frankfurt Stock Exchange and also on the SDAX (WKN: VTG999).
For further information please go to www.vtg.com
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