RNS Number : 7282Q
14 September 2017
Spin-off of the tank-container transportation business
PJSC TransContainer ("TransContainer" or the "Company") (TRCN), Russia's leading intermodal container transportation and logistics company, announces that on 13 September 2017, its Board of Directors approved to spin off the Company's tank-container transportation business into a wholly owned subsidiary. This business will be further developed on the basis of the existing Company's subsidiary TransContainer Finance. The Board of Directors has also approved an increase of the share capital of the subsidiary by up to RUB 613 million, which are to be contributed in a form of cash injection, as well as through a transfer of tank-containers owned by TransContainer. The completion of the spin-off is subject to the satisfaction of the legal procedures set by the Russian corporate law, including renaming the subsidiary to ChemicalTC LLC.
The Company expects that this decision will further improve the Company's positon in the fast- growing segment of tank container transportation and widen a range of high-quality intermodal container transportation services provided to its existing and new customers.
|Andrey Zhemchugov, First Deputy CFO||+7 495 637 9178 |
+7 495 609 6062
|Galyna Kulachek / Dinara Shikhametova||+44 (0) 20 7457 2020|
TransContainer (LSE ticker: TRCN) is the leading intermodal container transportation company in Russia with a market share of approximately 47%. It is the market leader in Russia by flatcar fleet size, container transportation by rail and rail-side container terminalthroughput. As at 30 June 2017, it owned and leased 23,561 flatcars and 70,990 ISO containers. TransContainer also owns a network of rail-side container terminals, located at 42 railway stations across Russia and operates one terminal in Slovakia under a long-term lease agreement. The Company's joint venture JSC Kedentransservice ("Kedentransservice", or "KDTS") also operates 19 inland rail-side terminals in Kazakhstan. The Company's sales network comprises of 113 sales outlets in Russia, along with additional outlets across the CIS, Europe and Asia. TransContainer is listed at Moscow Exchange and LSE. The Company's major shareholder with 50% +2 shares is United Transportation and Logistics Company, established by Russian Railways, Belorussian Railway and Kazakhstan Temir Zholy.
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