European wagon hire and rail logistics company, VTG, has now signed an agreement with Kuehne + Nagel, to merge a number of the two companies’ rail logistics operations.
The document was signed by chief executive officer of VTG, Dr Heiko Fischer, and chairman of K+N International AG, Karl Gemandt.
The aim is to create a rail logistics company with a Europe-wide network, and new possibilities for future transport concepts. The merger will see the creation of a new company, VTG Rail Logistics, which is due to begin operations in January 1 2014.
“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,” said Germandt.
The two companies hope the new deal will lead to a rise in the volume of business, and say approximately 270 employees will be employed by VTG Rail Logistics across 12 countries.
VTG holds the majority stake. in the joint venture. K+N’s intermodal railway logistics operations are excluded from the deal.
