Rhenus sells Crossrail to BLS Cargo
The Swiss-Belgian rail company participated by SNCF and Ambrogio strengthens its network along the Belgium- Germany-Switzerland-Italy trade
BLS Cargo has signed an agreement to acquire 100% - for an undisclosed price - of Swiss freight operator Crossrail, based in Belgium - from German logistics service provider Rhenus Logistics.
The deal, subject to approval by the competition authorities, signed on March 5 has been backdated to January 1.
Founded in Switzerland in 2004 to carry unaccompanied freight units between Germany, Switzerland and Italy on the Lötschberg-Simplon route, Crossrail has had a few ownership changes, and currently has 180 staff and a turnover of 70 million euro.
One third of BLS Cargo’s turnover is generated from traffic travelling to and from Belgium, working with Crossrail for past two years in services through Germany on the east bank of the Rhine, where Crossrail has been providing traction on BLS Cargo’s behalf, as well as in Belgium.
The acquisition will significantly strengthen BLS Cargo’s position on the Belgium-Germany-Switzerland-Italy north-south freight corridor, giving long-term access to transport services in Belgium and Germany.
BLS Cargo CEO Dirk Stahl noted that Crossrail is very similar to BLS Cargo, and the two companies are a perfect geographical match, to improve market position on the north-south corridor and expanding links to Antwerp and Zeebrugge ports.