The Rhenus Group is extending its activities in the railway freight business. The logistics services provider signed the contracts to take over the majority holding in the Crossrail AG private railway company on 22 December. Provided that the anti-trust authorities in Europe approve the measure, Rhenus will acquire 50.1 percent of the shares. Both Rhenus and Crossrail AG have coupled growth targets to their holdings.
“Crossrail has managed to develop successfully in a tough market environment during the last few years. The company with its range of traction services right across Europe will provide an ideal complement to our railway activities in the form of Rhenus Rail St. Ingbert and Niederrheinische Verkehrsbetriebe NIAG,” says Michael Viefers, a Member of the Rhenus Board, commenting on the decision to take a holding in Crossrail AG.
The private railway company, which has its headquarters in Muttenz near Basel, has specialised in offering trans-Alpine services between Italy, Germany, Belgium and the Netherlands. Crossrail AG has business centres in Italy, Germany, the Netherlands, Belgium and Switzerland.
“As a family-managed business, Rhenus offers us a stable and reliable basis for long-term growth. With its experience in industry, its multi-modal capacity and its network involving all modes of transport, we believe that we’ll be able to work together in a profitable manner. Working together, we’d like to consolidate road, waterway and railway services to an even greater degree,” says Jeroen Le Jeune, CEO of Crossrail AG.
The current shareholders LKW WALTER, Hupac, Le Jeune Capital Partners, Bertschi and MSC will continue to maintain their holdings in Crossrail AG. The company headquarters, the management team and the firm’s name will remain unchanged. The parties have agreed not to disclose the purchase price of the holding.
The Rhenus Group provides logistics services around the globe and has annual turnover amounting to EUR 4.1 billion. Rhenus employs over 24,000 people at more than 390 locations worldwide. The Rhenus business areas – Contract Logistics, Freight Logistics and Port Logistics – manage complex supply chains and provide a wealth of innovative value- added services.
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