VTG sells Russian assets
Wagon leasing company VTG ceased operations in Russia by selling its wagon leasing and project logistics business to international investors. It is reported by Railway Supply magazine with reference to IRJ.
VTG says it decided to sell the business in the wake of Russia’s invasion of Ukraine and in light of the subsequent economic sanctions imposed on Russia.
“We continue to condemn the Russian war of aggression in Ukraine in the strongest terms and against this background we have decided to discontinue our Russian business activities and to sell the corresponding VTG organisational units,” says Ms Oksana Janssen, chief operating officer for Eurasia and Far East at VTG.
“We are currently experiencing a geopolitical turning point that not only brings great suffering to the people in Ukraine, but also entails fundamental changes in global politics and the economy. As a company, we also have to face this new reality. It is important for us to uphold the founding idea, which defines the European Union as an area for peace, democracy and human rights, and to support this with our business activities.”
In November 2021, VTG Rail Russia signed a contract with Transmash for the supply of 250 container cars with a carrying capacity of 73 tons each, which were to be delivered from the fourth quarter of 2021 to the beginning of 2022. VTG Rail Russia placed its first order with Transmash in 2019 for 439 railcars, including combined transport platforms, which were planned to be used on the Russian market.
The company has also placed orders with RM Rail, including 250 container, cement and tank wagons for the transport of liquefied petroleum gas and oil.
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