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Globaltrans Eyes Takeovers

By The Moscow Times

Freight operator Globaltrans Investment plans to continue its expansion through acquisitions, the company said Monday.

Globaltrans is aiming to take advantage of continued liberalization in a freight market previously dominated by state-owned monopoly Russian Railways. Now more than 70 percent of the country's freight rail fleet is privately owned, Globaltrans said in a recent presentation.

Chief executive Sergei Maltsev said that MMK-Trans, a subsidiary of Magnitogorsk Iron & Steel Works, could be a target but that Globaltrans does not have any specific deals to announce.

Maltsev would also be interested in Evraztrans, he said in a conference call. Evraztrans, owned by Evraz, said in June that it may sell the transport asset.

(Reuters)

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