Following the conclusion of the checks performed by the anti-trust authorities on 2 October 2015, the Rhenus Group has acquired 50 percent of the shares in LTE Logistik- und Transport GmbH. To coincide with the closing, Rhenus railway specialist Michael Baier has become an additional managing director within the joint venture.
Rhenus is jointly responsible for LTE Logistik- und Transport with Graz-Köflacher Bahn und Busbetrieb GmbH. The joint venture has 32 locomotives and many goods wagons, which can be used for cross-border railway transport services. LTE currently has safety certificates to operate in Austria, Hungary, Slovakia, theCzech Republic, Romania, Germany and the Netherlands.
“It’s our goal to continue expanding the rail activities at LTE in order to improve our market position in the European railway transport business and make rail services even more attractive for Rhenus customers,” says Michael Viefers, a Member of the Rhenus Group’s Board.
The Rhenus Group provides logistics services around the globe and has annual turnover amounting to EUR 4.2 billion. Rhenus employs over 25,000 people at more than 460 locations worldwide. The Rhenus business areas – Contract Logistics, Freight Logistics, Port Logistics and Public Transport –
manage complex supply chains and provide a wealth of innovative value added services.
www.rhenus.com
Deal completed: Rhenus acquires LTE shareholding
02.11.2015Rhenus appointed Michael Baier, who has had many years of experience in the railway business, to the LTE management team
