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2008 March 13   13:28

Russian Railways, TransContainer, DB Mibility Logistics, Kombiverkehr and Polzug establish Trans-Eurasia Logistics JV

Russian Railways, its subsidiary TransContainer, DB Mibility Logistics, Kombiverkehr and Polzug have established the Trans-Eurasia Logistics joint venture. According to the press center of Russian Railways, the foundation meeting of Trans-Eurasia Logistics was held in Berlin on March 4, 2008 after the joint venture had been cleared by German antitrust authorities.

Russian Railways holds 30% of the company’s authorized capital, DB Mibility Logistics - 30%, TransContainer - 20%, Kombiverkehr  - 10%, Polzug - 10%.

The objective of the joint venture is to provide single-source logistics services for the transportation of containers between Western Europe and Russia, which will considerably simplify rail freight transportation on this route.

It is supposed that the JV is to focus on the development of new transport & logistics products on the basis of railway transport to meet high requirements of customers to cargo transportation and additional services. The quality and price competitiveness is to be ensured by optimal use of the incorporators’ resources.

In the nearest future, the company is to be registered in Berlin. Then an office will be opened in Moscow. In Russia the company will be registered as a subsidiary.

One June 21, 2007, Russian Railways President Vladimir Yakunin and DB chairman & CEO Hartmut Mehdorn signed the Agreement relating to the establishment and management of a jointly-owned company. Besides, the Letter of Intent was signed by all participants of the joint venture.

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