DGAP-News

Joint Venture between VTG and Kuehne + Nagel creates Europe's largest private rail logistics provider

DGAP-News: VTG Aktiengesellschaft / Key word(s): Joint Venture
Joint Venture between VTG and Kuehne + Nagel creates Europe's largest
private rail logistics provider

27.09.2013 / 13:31

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Joint Venture between VTG and Kuehne + Nagel creates Europe's largest
private rail logistics provider

- Kuehne + Nagel and VTG sign agreement

- Considerable rise in business volume from a single source

- Expanded range of services throughout Europe

Hamburg, September 27, 2013. VTG Aktiengesellschaft (WKN: VTG999), one of
Europe's leading wagon hire and rail logistics companies, and Kuehne +
Nagel, one of the world's leading logistics companies, today signed an
agreement in Hamburg to merge certain rail logistics operations. Subject to
the approval of the antitrust authorities, the new company, which will
operate under the name VTG Rail Logistics, will commence operations on
January 1, 2014.

On September 27, 2013, Karl Gernandt, Chairman of Kuehne + Nagel
International AG, and Dr. Heiko Fischer, CEO of VTG Aktiengesellschaft,
signed an agreement to merge certain rail logistics operations of the two
companies. 'This joint venture under the umbrella of VTG Rail Logistics is
creating a rail logistics company with a Europe-wide network of locations
and completely new possibilities for transport concepts that show the way
to the future,' says Fischer. 'I am very pleased that we have been able to
further extend our long-standing partnership with VTG,' explains Gernandt,
adding: 'The merger enables us to combine the expertise of two strong
logistics partners that complement each other perfectly in terms of the
regions and operations they focus on.'

Fischer and Gernandt emphasise that, due to the strength of the global
Kuehne + Nagel network together with the comprehensive range of services,
the new joint venture company is much better positioned in terms of
geographical scope. With its combined sales structure, it can also access
new customer and product segments. Kuehne + Nagel will continue to
collaborate closely with VTG as a partner and offer the services of the
joint venture to its customers. VTG holds the majority in the joint
venture.

The merger will lead to a considerable rise in the volume of business,
particularly in the Industrial Goods segment. The future VTG Rail Logistics
will have approx. 270 employees spread across a total of 12 countries.
Kuehne + Nagel's intermodal railway logistics operations, which the company