VR will focus on rail transport in its logistics business and sells its road logistics unit to the investment company Mutares. As a result of the transaction, the personnel working in road logistics and customer contracts will be transferred to the newly established company. The completion of the deal requires the approval of the Finnish Competition Authority, which is expected by the end of the year.
As a transport operator, VR focuses on its core business operations of passenger and freight transport. In addition, the company aims to divest itself of its station and depot properties in order to create a competition-neutral operating environment. In freight transport, VR will focus on rail transport in the future – and is now selling its road logistics business serving heavy industry.
“The focus on our core business operations continues and the sale of road logistics is a natural next step in implementing our strategy. I am satisfied with the development of road logistics in recent years and would like to thank the personnel for their excellent work in a difficult market situation. The new company focused on road transport as the owner enables even better business development from the point of view of customers and the market . The existing personnel, customers and partners are an important asset and a competitive factor, so the starting points for the new company and strengthening the competitiveness of the business are excellent”, says VR CEO Elisa Markula.
“This transaction increases the role of Mutares in Finland after the successful strategic changes of Palmia and Redo. The acquisition also strengthens our success in the logistics sector, of which Frigoscandia is an excellent example in the Nordic countries. We are very happy to welcome VR’s road logistics function and its staff to our team. Our growth in Finland and the Nordic countries will continue”, says Mutares CIO Johannes Laumann.
VR’s road logistics turnover in 2023 was around EUR 80 million euros and transport volumes 4.0 million tons. About 75 people work in road logistics operations in Kouvola, Riihimäki and Tampere, who will be transferred to the new company to be established in connection with the transaction.
The parties have agreed that the purchase price will not be made public. The transaction has no impact on VR’s railway logistics business.
Share on:
