[photopress:VTG.jpg,full,alignright]VTG Aktiengesellschaft (if it is alright with everyone we will just refer to the company as VTG from now on) which is based in Hamburg will become joint venture partner to Cosco Logistics of Beijing.
VTG will purchase 50% share in the Chinese logistics service provider, Cosco-Vopak Logistics which is located in Shanghai. A contract has been signed with the seller, Vopak North China B.V. The parties agreed not to disclose the purchase price.
[photopress:cosco_1_2.jpg,full,alignleft]VOTG Tanktainer, a 100% subsidiary of the VTG Group, has for several years been in the expanding Chinese market for tank containers.
The new company, which is named Cosco-VOTG Logistics, will specialize in logistics services for the transport of chemicals for the chemical and petrochemical industry.
VTG is one of Europe’s leading rail logistics and wagon hire companies. With about 48,400 rail freight cars, VTG has Europe’s largest private wagon fleet. In addition to the hiring of rail freight cars, the Group offers global tank container transport and comprehensive mulit-modal logistics services mainly around rail transport.
Source: Ad Hoc News