GET 2009/43
1 December 2009
For release at 07:45
Eurotunnel completes first external expansion in its history
with the acquisition of the French businesses of Veolia Cargo
Eurotunnel has completed the acquisition, initiated on 2 September
2009, of the French businesses of Veolia Cargo. With this purchase,
Eurotunnel takes on a leading role in the French rail freight market
which is currently receiving strong government support.
Jacques Gounon, Chairman and Chief Executive of Eurotunnel, stated:
"This investment is in line with Groupe Eurotunnel's development
strategy, based on infrastructure and railway management. Always
conscious of the environment, we want to strengthen our position in
markets with potential".
The companies concerned, Veolia Cargo France, Veolia Cargo Link, CFTA
Cargo and Socorail will be placed under the management of Europorte,
the group's rail subsidiary. As a result of its strong brand
recognition, Socorail will not change name. The other entities will
be renamed respectively as: Europorte France, Europorte Link and
Europorte Proximity. Cross-Channel activities of Europorte 2, which
started in 2007, and which has now handled its 5,000th train, will
henceforth be known as Europorte Channel.
The acquired businesses constitute a wide range of integrated rail
freight services: the haulage of rail freight at both national and
international level, local freight services on secondary lines and
industrial services (management of local connections, infrastructure
maintenance, loading and unloading wagons).
Europorte will now have a more significant foothold in France that
will enable the group to expand its service proposition. The group
will also be better able to provide for the increasing customer
demand for efficient and environmentally sustainable solutions.
In 2008, the activities, with 600 employees spread across 10 agencies
(see map) and approximately 100 industrial sites, had revenues of
approximately 50 million Euros.
Within the framework of sustainable development, this investment is
an acceleration of one of the group's core activities.
For media enquiries contact on + 44 (0) 1303 284491
Email: press@eurotunnel.com
For investor enquiries contact Michael Schuller on +44 (0) 1303
288749
Email: Michael.schuller@eurotunnel.com
The full press release (including picture) can be downloaded from the
following link:
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