Lucerne, 13 August 2018
The Swiss railway wagon leasing company Wascosa AG is acquiring about 4,400 freight wagons from NACCO/CIT. Together with Aves One AG, an investor in the logistics assets sector listed on the stock exchange, Wascosa signed a purchasing contract outlining the acquisition of around 30% of the NACCO Group’s freight wagon. In addition to taking over operations and wagon leasing contracts, Wascosa will also assume responsibility for NACCO GmbH operations in Hamburg.
Philipp Müller, President of the Board of Directors:
‘By acquiring NACCO’s freight cars, we are significantly accelerating the growth we have established over recent years. NACCO's young, modern rail wagon fleet is the ideal addition to Wascosa’s offerings and allows us to further diversify our range. This will open up additional opportunities for growth in both existing and new market segments.’
New number four in Europe
With the acquisition of more than 4,400 freight wagons, Wascosa’s fleet will reach more than 14,000 freight wagons by the end of the year. As a result, it will become the fourth largest European rail wagon leasing provider after VTG, Ermewa and GATX.
Antitrust authority conditions
The responsible antitrust authorities approved VTG AG’s acquisition of CIT Rail Holdings (Europe) SAS, the owner of the NACCO Group, in March 2018 under the condition that around 30% of its freight wagon stock be transferred to a third party. With today's signing of the purchase contracts by the bidding consortium of Wascosa and Aves One, a major step to comply with the competition authorities’ conditions has been made.
Bild: Shutterstock, Dolni Berkovich
About Wascosa AG
Founded in 1964 and headquartered in Lucerne, the family-owned Wascosa AG is a pioneer in freight wagon leasing. Its core business is the leasing and management of freight wagons for rail transport across Europe. The fleet includes everything from tank wagons for the chemical and mineral oil industry to intermodal wagons and wagons for mass freight transport. Customers include chemical and mineral oil corporations, industrial and logistics companies, and private and state-run railway companies.
Several years ago, Wascosa AG successfully repositioned itself as the leading provider of freight wagon systems on the European market.
For further information: www.wascosa.ch
About Aves One AG
Aves One AG is a strongly expanding investor in long-life logistics assets, focused on rail freight wagons, with standard shipping containers, swap bodies for road transport and logistics facilities are also part of the Aves One AG. portfolio. Aves One customers are national railway companies, shipping companies and industrial companies. The Hamburg-based company is listed on the regulated market (Prime Standard segment) of the Frankfurt Stock Exchange (ISIN: DE000A168114; WKN: A16811).
For further information: www.avesone.com
Further information provided to media professionals:
Gabriele Wagner, Head of Marketing & Communication
Wascosa AG, Werftestrasse 4, 6005 Lucerne, Switzerland
Phone: +41 41 727 67 41