The Hamburg-based wagon hire and rail logistics company VTG Aktiengesellschaft (WKN: VTG999) has taken over the vehicle fleet containing around 300 wagons from the Italian competitor Sogerent, a transaction company of Sogetank. By doing so VTG is continuing its course of growth and expanding its market position in Italy. The contracting parties have agreed not to disclose the purchase price.

"The acquisition of the business from Sogerent in Italy clearly shows that we are pursuing a path as market consolidator and using the opportunities to make purchases of various sizes to strengthen our business. Furthermore we have trust in the Italian market and see potential for the future throughout the whole region", comments Dr. Heiko Fischer, CEO of VTG AG.

Besides several freight wagons, the acquisition mainly involved rail tank cars for mineral oils, chemical products and compressed gases, which are hired in Italy, Switzerland and Eastern Europe. The Sogerent business will be completely integrated into VTG Italy in Milan.