||Switzerland : Hupac inks agreement to acquire ERS Railways from Genesee & Wyoming Inc
||Intermodal freight operator Hupac announced an agreement to acquire ERS Railways from Genesee & Wyoming Inc., including ERSs 47% stake in Hamburg-based operator boxXpress.
Subject to regulatory approval, completion of this transaction is expected during the second quarter of this year.
Acording to Hupac, following this transaction, ERS would continue to be a fully independent company, and its co-operation with G&Ws Freightliner subsidiary for the provision of traction services would be strengthened.
Hupac added, with this acquisition it expects to strengthen its footprint in the European port hinterland logistics market, with the ERS network based on German ports complementing its existing routes from Antwerpen and Rotterdam.
Hupac claims, in recent years, there had been substantial growth in this sector, and it foresees further growth potential linked to globalisation.
Established in 1994, ERS was in 2013 acquired from Maersk Line by Freightliner Group, which was itself acquired by G&W in 2015. It deals in offering freight forwarding services in the German maritime intermodal market, primarily through boxXpress, and operates a Lbeck Ludwigshafen block train service.
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