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January 14, 2010

DB Schenker tightens grip on Italian freight market

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DB Schenker Rail has purchased a further 11% stake in Italian railfreight operator NordCargo to become its majority shareholder.
 
As part of the deal, DB Schenker Rail Italy will merge with NordCargo with the 300 employees of both companies acting under the NordCargo umbrella. DB Schenker, which now holds 60% of the company, acquired its initial 49% stake in January 2009.
 
"The amalgamation of these two companies will enable us to improve our product portfolio in Italy and along the north-southbound corridors, thus laying the basis for attracting more transport onto rail in both the international and the Italian domestic markets," says Dr Alexander Hedderich, chairman of DB Schenker Rail.
 

The merge strengthens DB Schenker's hold in Italy which is already one of its important foreign markets, accounting for approximately a quarter of its revenue in 2008. NordCargo, which has been active in the freight transport market since 2001, runs 7000 trains on the Italian network clocking up 1.4 million km per annum. It operates international routes along the Adriatic and Tyrrhenian coasts between Milan and Naples.

DB Schenker Italy, the successor of private operator SFM which was purchased by DB Schenker Germany in 2004, generated revenues of Euros 17 million in 2008.

Photo: Phil Wormald


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