DGAP-News: VTG expands U.S. Railcar Fleet
VTG Aktiengesellschaft / Key word(s): Miscellaneous/Miscellaneous
VTG expands U.S. Railcar Fleet
- Diversification into dried distillers' grains
- New customer brings new business
Hamburg, December 11, 2013. VTG Aktiengesellschaft (WKN: VTG999), one of Europe's leading railcar leasing and rail logistics companies, has further expanded its U.S. railcar fleet. The company has added some 350 jumbo covered hoppers for dried distillers' grains (DDG), acquired by the U.S. subsidiary VTG Rail. The railcars have an average age of six years.
'This acquisition is an important step on the way to significantly rejuvenating and diversifying our U.S. fleet', explains Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft. 'Furthermore, with this purchase, we are gaining an important new customer who requires the railcars for product distribution both in and beyond the U.S.'
Chris Schmalbruch, President of VTG Rail, is pleased with the opportunity this new acquisition provides to grow the fleet and profitability, explaining: 'With the purchase of these cars we now have access to another promising market, where our highly motivated team can provide top level service to the leader in the premium DDG market.'
VTG entered the North American market in 2008 with the acquisition of Texas Railcar Leasing Company and its fleet of 1,000 railcars. In the two years that followed, the company doubled the number of railcars with further acquisitions. In 2011, VTG Rail once again doubled the size of its fleet by adding another 2,400 railcars with its acquisition of the fleet owned by SC Rail Leasing America. VTG Rail now operates in the North American market with a fleet of more than 4,000 railcars.
VTG Aktiengesellschaft is one of Europe's leading railcar leasing and rail logistics companies. The company has the largest private railcar fleet in Europe. Globally, the fleet consists of some 52,700 railcars, 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 comprehensive multi-modal logistics services, mainly around rail transport, and global tank container transports.
With the combination of its three interlinked divisions Railcar, 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 2012, VTG generated revenue of EUR 767.0 million and operating profit (EBITDA) of EUR 173.8 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia, Russia and North America. As at 31 December 2012, VTG had 1,188 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).
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