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July 22, 2009

DB completes PCC Logistics takeover

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GERMAN RAIL (DB) is set to go ahead with its takeover of Poland's largest private railfreight operator PCC logistics after the acquisition was approved by the European Commission.
The agreement defining purchase terms for the takeover was signed in Warsaw in January, although the deal was subject to scrutiny from European antitrust bodies.
PCC Logistics has around 5800 employees and last year carried 93 million tonnes of freight, with revenues of €350 million, giving it an 8% share of the Polish railfreight market. It consists of several regional operating companies and deals principally in coal, chemical and aggregate bulk flows.
DB's policy of acquiring freight operators outside Germany has seen it expand rapidly across Europe in recent years. DB initially expanded into the Netherlands, acquiring the freight arm of Netherlands Railways NS Cargo. It later bought Danish State Railways' (DSB) freight arm DSB Gods and in 2004 it established a presence Italy with the purchase of SFM (now DB Schenker Italia). In 2007 it bought British railfreight operator EWS, which also operates in France, as well as Spanish freight forwarder Transfesa. It also acquired a 20% stake in BLS Cargo, Switzerland in 2007, which was increased to 40% last year.
 
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