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PTK Acquired Vostok1520 Operator from UniWagon
November 22, 2016
First Heavy-Weight Company (PTK) bought Vostok1520 from United Wagon Company, the Gudok reports. PTK earlier acquired Nitrokhimprom leasing company, which now makes PTK the largest owner of new-generation freight cars in the CIS.
Upon the Vostok1520 acquisition PTK will own over 23,000 freight cars. UniWagon will become a PTK shareholder (19.9%) and will “pursue corporate development and development of competencies in heavy train operation”.
“We decided to return to the rail transportation market as it is the right time to do that now”, Industrial Investors General Director Andrey Burlinov said. “First Heavy-Weight Company, which is part of our group, has become CIS’ largest owner of increased-load freight cars”.
Industrial Investors Investment Group was established by entrepreneur Sergey Generalov in 2000 to invest into industrial enterprises and venture companies in Russia and abroad.
Vostok1520 is an operator of new-generation freight cars. The company was established and owned by United Wagon Company. Vostok1520 owns over 17,000 freight cars - gondolas, mineral fertilizer hoppers and corn hoppers.