VTG cements 15 year deal with Tarmac
VTG Rail UK, a subsidiary of VTG Aktiengesellschaft (SCN: VTG999), one of Europe’s leading rail logistics and wagon hire companies, has signed a 15-year agreement with Tarmac Buxton Lime and Cement (TBLC) for the purchase and lease back of its key 50 wagon fleet.
Under the new arrangement, VTG takes ownership of 20 aggregate hoppers and 30 pressure discharge cement tanks, which are being leased back exclusively to the cement and lime producer for the duration of the contract. As part of the lease back deal, all of the wagons will be re-painted to include a 'Tarmac Buxton Lime and Cement and VTG' livery.
As the new owners of the wagons, VTG will take on responsibility for maintenance, repair and all other aspects of their upkeep, relieving TBLC of the ever increasing and expensive process of complying with the stringent safety and regulatory requirements placed on the owners of freight rolling stock.
By choosing to do a deal of this nature with VTG, an independent wagon lessor, rather than enter into a arrangement with a Freight Operating Company, TBLC has gained the freedom not only to negotiate the best haulage deals in an ever more competitive marketplace, but also the ability to readily switch haulier, should performance demand it.
Ian Shaw, VTG’s Bulk Fleet Sales Manager said: “We are delighted to have been awarded this new contract with TBLC, which will give them long term peace of mind on wagon availability and operability. Our lease back deals are completely seamless, meaning wagons can stay in service throughout the transaction and allowing TBLC to continue its business uninterrupted while we take care of all of the legal and maintenance requirements of wagon ownership.”
Phil Richards, Business Director at Tarmac Buxton Lime and Cement said: “Although we spoke to other companies, we were immediately impressed by VTG’s very positive proposal, and are delighted with the agreement we have reached.”
Ends
Notes to editors:
The jpeg attached shows:
A Tarmac Buxton Lime and Cement set being pulled across Saddleworth viaduct in Greater Manchester.
About VTG:
VTG Aktiengesellschaft is one of Europe’s leading wagon hire and rail logistics companies. The company has the largest private wagon fleet in Europe. Globally the fleet consists of about 49,600 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 wagons, 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 541.3 million and an operating result (EBITDA) of EUR 137.0 million. The preliminary, still unconfirmed figures for 2008 are sales of EUR 608.7 million and operating profit (EBITDA) of EUR 156.4 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 31 December 2008 VTG employed 1,004 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).
Press contact:
Andrea Geeson Communications Manager
Telephone: 01444 473588
E-Mail: andrea@woodhousecommunications.co.uk
