Support The Moscow Times!

Globaltrans Eyes Takeovers

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)

Related articles:

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.