The acquisition will make CFI one of Italy's largest open-access operators with 14 locomotives, 650 wagons and 136 employees.

CFI was founded by its current CEO Mr Giacomo Di Patrizi in 2007 and despite the challenging economic climate in Italy the company has invested €12m this year in two Siemens Vectron locomotives and the upgrading of its terminal and warehouse at Piedimonte San Germano in Lazio, where the company handles freight for Fiat Chrysler Automobiles.

Other CFI railfreight customers include Acciaierie Arvedi, Acciai Speciali Terni, FCA, Case New Holland, Padana Tubi, Unilever, and Nestlé.