DB Schenker to acquire large stake in Italian rail cargo company

DB Schenker to acquire large stake in Italian rail cargo company Railion Italia S.r.l., an Italian subsidiary of DB Schenker, on Wednesday acquired a 49 percent stake in Milan-based NordCargo S.r.I., a company that transports rail shipments between Germany, Switzerland and Italy.
   NordCargo was spun off from its parent company, Ferrovienord S.P.A. (FNM), in 2003 and in 2007 generated revenue of roughly 34 million euros with 182 employees.
   'The collaboration between Railion Italia and NordCargo will enable us to make better single-source offers to our customers in Northern Italy, as well as along the north-south corridor,' said Norbert Bensel, who, as head of DB Schenker, is responsible for the transport and logistics division of DB Mobility Logistics AG.
   DB has a 95 percent stake in Railion Italia, formerly known as Strade Ferrate del Mediterraneo, since 2004.
   The deal with NordCargo is still awaiting regulatory approval, the companies said.