Veolia Cargo buying Rail4Chem

Veolia Cargo buying Rail4Chem Veolia Cargo is set to become one of Europe’s leading privately owned rail cargo operators after reaching agreement to buy Essen, Germany-based Rail4Chem.
   Rail4Chem was established in 2000 by BASF SE, HOYER GmbH Internationale Fachspedition, Bertschi AG and VTG Aktiengesellschaft. The shareholders said they would remain customers of the enlarged rail company after it is sold.
   The rail company has permits in Germany, the Netherlands, Belgium, France and Switzerland. Together with partners, it also provides transport services to Poland, Czech Republic, Austria, Hungary, Italy and Slovakia. Rail4Chem employs about 180 people and posted sales of more than 80 million euros last year.
   Veolia Cargo is a subsidiary of Veolia Transport and employs about 1,000 people. Its specialized subsidiaries operate in France, Germany and the Netherlands. Last year it generated revenue of 122 million euros.
   All the parties concerned have agreed not to disclose the price of the acquisition, which is subject to approval from competition authorities and is expected to be finalized during the first half of this year.