July 02, 2015: The Rhenus Group has acquired 50 percent of the shares in Austrian rail company LTE Logistik- und Transport GmbH. The agreement between Rhenus and LTE was signed on 17 June 20215, but it still needs the approval of the European anti-trust authorities.
Rhenus will in future share the responsibility for LTE Logistik- und Transport with Graz-Köflacher Bahn und Busbetrieb (GKB).
National licenced operations by LTE in Austria, Hungary, Slovakia, the Czech Republic, Romania, Poland and the Netherlands will complement Rhenus' existing portfolio of railway licences in Western, Eastern and South-Eastern Europe. Rhenus will be also able to make use of 32 locomotives and a large number of goods wagons when planning and operating cross-border railway transport services.
"We're expecting our holding in LTE to increase our market opportunities in the European rail transport business. The products offered by Rhenus will become more diverse and more efficient and the level of coverage on the continent will improve to a considerable degree," says Thomas Maassen, who is responsible for Rhenus Rail.
The Rhenus Group significantly expanded its activities in railway goods traffic by acquiring 50.1 percent of the shares in the Crossrail railway company at the start of this year. The holdings in Crossrail and LTE enable the logistics specialist to make the most of its opportunities as a significant private operator of railway transport solutions in Europe.
The Rhenus Group provides logistics services around the globe and has annual turnover amounting to €4.2 billion. Rhenus employs over 25,000 people at more than 460 locations worldwide. The Rhenus business areas – Contract Logistics, Freight Logistics, Port Logistics and Public Transport – manage complex supply chains and provide a wealth of innovative value- added services.