PKP buys remaining 44.44% of PS Trade Trans share
15:21
PKP Cargo has reached agreement to purchase the remaining 44.44 percent stake in Przedsiębiostwo Spedycyjne Trade Trans (PS Trade Trans), the company announced. The acquisition will allow PKP Cargo to continue its dynamic expansion on foreign markets, Adam Purwin, CEO of the company, stated.
“The PS Trade Trans takeover is a step towards the implementation of our international expansion plans. Full integration of the biggest Polish railway freight carrier with one of the biggest logistics companies in the sector will allow for further development of the group, while the Trade Trans international experience will facilitate winning of new contracts,” Purwin said.
WSE-listed PKP Cargo completed an acquisition of a majority stake in PS Trade Trans in April 2011. PS Trade Trans has been shipping as many as 10 million tons of goods a year and its average annual revenue amounted to PLN 500 million in the last years. It employs 350 workers.
