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German giant in £250m DNS purchase
Page 14
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THE BOSS OF Britain's largest rail-freight operator, EWS, says its purchase by Deutsche Bahn (DB) will help increase the amount of rail freight it carries in Britain and on the Continent.
The German rail operator plans to acquire all EWS shares, as well as a majority shareholding in the Spanish transport and logistics service Transfesa.
The EWS deal is believed to be worth about £250m (€371m) but an EWS spokesman declines to comment on this figure.
Now DB plans to extend its coverage in Western Europe, creating a one-stop shop. DB's CEO Hartmut Mehdornsays:"The transport and logistics industry is booming. Only companies that can offer their own network and consistently high quality standards will be able to succeed in that market. The climate-friendly rail mode still is and will remain our core business."
DB hopes this acquisition will also improve its business in France, where EWS is already represented by subsidiary Euro Cargo Rail.
EWS chief executive Keith Heller says: "We can build on the platform we've created in the UK and France for rail-freight growth, offering our customers a comprehensive European rail freight network. This agreement between DB and EWS will allow greater volumes to be moved by rail."
EWS has nearly 5,000ern ployees across Britain with an annual turnover of more than £500m.