Eurotunnel completes first external expansion in its history with the acquisition of the French businesses of Veolia Cargo
Eurotunnel has completed the acquisition, initiated on 2 September 2009, of the French businesses of Veolia Cargo. With this purchase, Eurotunnel takes on a leading role in the French rail freight market which is currently receiving strong government support.
Jacques Gounon, Chairman and Chief Executive of Eurotunnel, stated:
“This investment is in line with Groupe Eurotunnel’s development strategy, based on infrastructure and railway management. Always conscious of the environment, we want to strengthen our position in markets with potential”.
The companies concerned, Veolia Cargo France, Veolia Cargo Link, CFTA Cargo and Socorail will be placed under the management of Europorte, the group’s rail subsidiary. As a result of its strong brand recognition, Socorail will not change name. The other entities will be renamed respectively as: Europorte France, Europorte Link and Europorte Proximity. Cross-Channel activities of Europorte 2, which started in 2007, and which has now handled its 5,000th train, will henceforth be known as Europorte Channel.
The acquired businesses constitute a wide range of integrated rail freight services: the haulage of rail freight at both national and international level, local freight services on secondary lines and industrial services (management of local connections, infrastructure maintenance, loading and unloading wagons).
Europorte will now have a more significant foothold in France that will enable the group to expand its service proposition. The group will also be better able to provide for the increasing customer demand for efficient and environmentally sustainable solutions.
In 2008, the activities, with 600 employees spread across 10 agencies (see map) and approximately 100 industrial sites, had revenues of approximately 50 million Euros.
Within the framework of sustainable development, this investment is an acceleration of one of the group’s core activities.
Routes currently covered by Europorte France