VTG help new entrant enter the UK rail freight market
Birmingham, 7 July 2008. Following a successful three-month trial, VTG UK Rail has secured a 12-month leasing contract with Advenza Freight Limited.
Under the new contract VTG has provided Advenza with 26 maintained box wagons, giving them the means to move bulk material across Great Britain and thereby assisting with the introduction of a new timetabled rail freight operation to the market.
The 102 tonne GLW Open Box wagons each have a usable payload of approximately 75 tonnes and are being used by Advenza Freight to transport steel for recycling from various locations throughout Great Britain to leading processing plants.
Richard Clark, Head of Commercial from Advenza Freight Ltd commented: “We are delighted to be working with VTG as we take our first regular timetabled steps in the rail freight market. We decided on this occasion to lease wagons from VTG rather than sub contract the service because we felt VTG offered a competitive and long term solution which would enable us to offer a flexible and dynamic alternative to existing Freight operators.“
Ian Shaw, Sales Manager VTG said: “At VTG we offer a variety of leasing opportunities to suit a range of needs. We are pleased that we were able to provide wagons to Advenza assisting them take their first steps in the rail freight market, thereby helping to further open up the Freight Operating Company market place to competition.”
Notes to editors:
VTG Aktiengesellschaft is one of Europe’s leading rail logistics and wagon hire companies. The company has the largest private wagon fleet in Europe. Globally the fleet consists of about 49,300 rail freight cars with a focus on tank cars and state of the art high capacity freight cars and flat cars. In addition to the hiring of rail freight cars, the Group offers global tank container transport and comprehensive multi-modal logistics services mainly around rail transport.
With the combination of its three interrelated divisions Wagon Hire, Rail Logistics and Tank Container Logistics VTG offers its clients a high-performance platform for international transport of their freight. The Group has many years of experience and specific know-how in particular in the transport of liquid and sensitive goods. Its customers include numerous well-known companies from almost all industrial sectors such as, for example, chemicals, mineral oil, the automobile or paper industries.
In the financial year 2007 VTG generated operating revenues of EUR 541.4 million and an operating result (EBITDA) of EUR 137.0 million. Via its subsidiaries and affiliates the company, which has its head office in Hamburg, is mainly present in Europe, Asia and North America. As at 30 June 2008 VTG employed 833 employees worldwide in consolidated companies. Since June 2007 VTG AG has been listed on the official Prime Standard market of the Frankfurt Stock Exchange – since September 2008 also on the SDAX (SCN: VTG999).
Andrea Geeson, Communications Manager
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