Kuehne + Nagel’s merger with European wagon hire and rail logistics firm VTG, has been granted approval from the German and Austrian antitrust authorities.
The businesses are set to begin integrated operations on the 1st January 2014.
“With the merging of our operations, we are further consolidating our position as Europe s largest rail logistics company. With a concept that greatly expands our network of centese and needs-based solutions, we are pleased that we will be able to offer our customers a much-expanded range of services in the future,” says Dr. Heiko Fischer, CEO of VTG.
The merger will allow the firm to continue its growth strategy for VTG Rail Logistics, and its expansion of services in the product segments of industrial, agricultural, and petrochemical goods.
In the financial year 2012, VTG generated revenue of EUR 767.0 million and operating profit of EUR 173.8 million.