6
Issue 2 2015 - Freight Business Journal
///NEWS
Freightliner sold to US rail firm Reprieve for Russia TIR
UK and international rail operator Freightliner has been sold to Genesee & Wyoming (G&W), a US-based railroad company. G&W has entered into an agreement to acquire
Freightliner Group from Arcapita, Freightliner’s majority shareholders since 2008. The new owners said there would be no impact
on the day to day operations of the Group and its subsidiaries. All existing arrangements for each of Freightliner’s operating companies will remain unaltered and staff will not be affected. Bahrain-based Arcapita, which bought Freightliner in 2008, announced last November that the company was up for sale. While press reports at the time suggested it could fetch up to £400 million ($630 million), G&W said in a statement that its
purchase of about 95% of Freightliner Group shares from Arcapita and other shareholders would cost it about £490 million or $755 million. The new owners would assume around £8.5 million in net debt and capitalised leases. Members of the existing Freightliner management team will retain about 5% ownership for now, but G&W will own the whole company by mid-2020. The acquisition is expected to close during the first quarter of 2015. Freightliner chief executive Russell Mears said
the change of ownership would bring “additional investment firepower, extended international reach and increased infrastructure expertise to add to the existing strengths of the Freightliner Group. Their commitment to safety and service quality in all activities also mirrors our own values.”
UK firm to run Saudi trains
Just before the sale announcement, Freightliner Group said it was part of a British consortium that has won a contract from the Saudi Railway Company (SAR) to provide management and technical support for freight, infrastructure and passenger operations on its new North South Railway (NSR). Freightliner will provide technical assistance, interim management and training to SAR for an initial five years for the NSR which, at over 2,750km is one of the world’s largest current rail projects. The consortium also includes Network Rail Consulting and Serco, who will be providing technical assistance, interim management and training for passenger services. Freightliner already runs comprehensive intermodal services in mainland Britain. A
spokesman for the company said that in time, it may in future be possible to provide through rates to destinations in Saudi Arabia, once intermodal rail services are established in Saudi Arabia. However, current rail freight operations in Saudi Arabia are focused on phosphate and bauxite.
The Russian Customs Federation has told the Russian guaranteeing association for the TIR system, ASMAP, that it will extend its agreement to operate the transit bonding system until 30 June. However, the International Road
Transport Union warns that, given the lack of information, it cannot rule out problems at border points. President Putin
has though
issued a list of instructions to ensure that TIR continues to operate, described by
International Road Transport Union (IRU) secretary general, Umberto de Pretto as “a very positive development, and additional proof of the increasing importance of the TIR Convention.”
France looks to impose minimum wage for cabotage drivers
France looks set to follow Germany in imposing a minimum wage for foreign drivers on its territory. The French National Assembly said on 15 February that it planned to adopt a measure imposing France’s minimum hourly wage of €9.61 for drivers involved in cabotage operations on its territory. Germany introduced its
controversial minimum wage rule on 1 January but has since announced a moratorium on the application of the law to long- distance truck drivers in transit. Unlike Germany, the French law would apply to cabotage only, and not drivers in transit.
Faced with a backlash from
East European member states, barely a month aſter introducing the legislation Germany said it had decided to exclude road transport operators crossing its territory from the scheme until it obtains “clarification of the European legal issues”. Under a new German
regulation introduced on 1 January, all workers in Germany must be paid wages of at least €8.50 gross per hour. Legal
experts must
decide whether transit
across the hauliers
Union, which represents road freight companies, argues that Directive 96/71/EC does not deal with road transport. But trade unionists claim that road transport operators should not be excluded from the posting directive. However, they added that the legislation, particularly regarding cabotage operations, is far from clear in this respect. Meanwhile, French secretary
now in
country
constitute ‘posted workers under EU legislation. The International Road Transport
of state for transport, Alain Vidalies, said he would press the EU and other member states on the idea of setting up a European agency to coordinate checks on road freight transport, an idea first mooted by his predecessor, Frédéric Cuvillier, last spring.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48