Merger of wholly-owned subsidiaries
Globaltrans Investment PLC (together with its consolidated subsidiaries the “Company”, “Globaltrans” or the “Group”, LSE ticker: GLTR) today announces that the Company has approved the intragroup merger of LLC Ferrotrans (renamed from Metalloinvesttrans) with OOO Sevtekhnotrans, both wholly-owned subsidiaries of the Company. This is the next step in the integration of Ferrotrans following its acquisition in May 2012.
As a result of the merger, all rights and obligations of LLC Ferrotrans and OOO Sevtekhnotrans will be passed to limited liability company GTI Management. The merger is expected to be completed by the end of 2014 after the completion of all required filings, registrations and procedures according to the laws of the Russian Federation.
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NOTES TO EDITORS
Globaltrans is a leading private freight rail transportation group with operations in Russia, the CIS and the Baltic countries. The Group’s main business is the provision of freight rail transportation services. Globaltrans provides services to more than 500 customers and its key customers include a number of large Russian industrial groups in the metals and mining and the oil products and oil sectors.
The Group has a total fleet of about 66 thousand units of rolling stock with an average age of about eight years. Universal gondola cars and rail tank cars constitute the backbone of the Group’s fleet. About 93% of the total fleet is owned by the Group. In 2013 the Group’s freight rail turnover (including engaged fleet) was 155.5 billion tonnes-km. The Group’s market share was 8.3% of overall Russian freight rail transportation volumes in 2013.
Globaltrans' global depositary receipts (ticker symbol: GLTR) have been listed on the Main Market of the London Stock Exchange since May 2008. Globaltrans was the first freight rail transportation group with operations in Russia to have an international listing.
To learn more about Globaltrans, please visit www.globaltrans.com
Some of the information in this announcement may contain projections or other forward-looking statements regarding future events or the future financial performance of Globaltrans. You can identify forward-looking statements by terms such as 'expect', 'believe', 'anticipate', 'estimate', 'intend', 'will', 'could', 'may' or 'might', the negative of such terms or other similar expressions. Globaltrans wishes to caution you that these statements are only predictions and that actual events or results may differ materially. Globaltrans does not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in projections or forward-looking statements of Globaltrans, including, among others, general economic conditions, the competitive environment, risks associated with operating in Russia, rapid technological and market change in the industries Globaltrans operates in, as well as many other risks specifically related to Globaltrans and its operations.