WASCOSA News

Wascosa successfully completes the acquisition of 4,400 NACCO/CIT freight wagons
Lucerne, 1 October 2018
 
  • Closing of the transaction announced in August 2018 now completed
  • The Wascosa rail wagon fleet grows to over 14,000 wagons
  • Wascosa now fourth largest European wagon leasing company
  • The Wascosa wagon portfolio enlarged by various wagon types
  • Wascosa still has the youngest wagon fleet of all European wagon leasing companies
On 1 October 2018, Wascosa AG, the Swiss railway wagon leasing company, and the listed Aves One AG, an investor in logistics assets closed the acquisition of 4,400 freight wagons from NACCO, a subsidiary of CIT Group. In addition to taking over operations and wagon leasing contracts, Wascosa will also assume responsibility for NACCO GmbH operations in Hamburg. The remaining 11,000 freight cars will remain with the NACCO Group, which in turn will be taken over by VTG AG, one of the leading wagon leasing and rail logistics companies in Europe.
 
Philipp Müller, President of the Board of Directors:
"The rapid completion of this transaction significantly accelerates our growth in recent years and makes us the number four of European wagon hire companies. This opens up further interesting growth prospects for us in existing and new market segments".

Growth target for 2018 far exceeded
NACCO/CIT's 4,400 freight wagons will be integrated into Wascosa's existing fleet by the end of 2018. Wascosa thus exceeds the growth target of 10,000 wagons announced at the beginning of the year by more than 40 %.
 
Still Europe’s youngest wagon fleet
With an average age of 13 years, Wascosa has the youngest fleet of all European freight wagon leasing companies. NACCO's young and modern rail wagon fleet with flat wagons, open wagons, covered wagons and hopper wagons is an ideal extension to Wascosa’s offerings and allows Wascosa to further diversify its range of wagons.
 
 
Wascosa successfully completes the acquisition of 4,400 NACCO/CIT freight wagons
Photo: Wascosa

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
Email: gabriele.wagner@wascosa.ch
Web: www.wascosa.ch

 
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