The Finnish national company VR Group has successfully completed the acquisition of the Swedish railway operator MTR Express (MTRX), this is reported by the railway transport news portal Railway Supply.

Finnish VR Group Completes Acquisition of Swedish Operator

MTRX, which operates on an open access basis on the Stockholm-Gothenburg route, competes with the Swedish state passenger company SJ.

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The intention to sell MTR Express (MTRX), a part of the Swedish subsidiary MTR Nordic of the Hong Kong-based MTR Corporation, was announced in February 2024.

The deal received approval from the Swedish Competition Authority, and now the Swedish operator’s trains under the VR brand will appear on the Stockholm-Gothenburg route in the fall of 2024.

VR Group notes that the volume of long-distance passenger transport in Sweden is twice that of Finland.

The share of rail transport in Sweden’s overall passenger traffic is also twice as large as in Finland.

This makes the Swedish market attractive for VR Group, which expects to profit and plans to attract passengers with high-quality service.

MTRX has been operating between Stockholm and Gothenburg since 2015, using six FLIRT trains manufactured by Stadler.

These trains make 126 trips per week, accounting for more than a third of the total traffic on this route.

As part of the deal, the entire MTRX train fleet will become the property of VR, while Stadler will continue to maintain the trains until 2033.

In 2022, MTRX’s revenue was about 350 million Swedish kronor (approximately 33.7 million USD).

MTRX trains stop in eight cities on the Stockholm-Gothenburg route, making them an important element of the Swedish transport system.

The acquisition of MTR Express provides VR Group with access to a more developed and larger passenger transport market.

With rebranding and maintaining a high level of service, the company plans to strengthen its position in the Swedish market and ensure sustainable growth in the future.

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