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:
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
