German rail operator DB Schenker Rail has bought an additional 11% stake in the Italian rail freight operator NordCargo, becoming its majority holder with a total 60% stake.
As part of the deal, DB Schenker Rail Italia's activities will be merged with NordCargo under the umbrella of NordCargo, which will have nearly 300 employees.
Milan's NordCargo, formerly a part of Ferrovie Nord Milano, runs 7,000 trains / 1.4 million train km per annum on international routes along the Adriatic and Tyrrhenian coasts between Milan and Naples.
In 2008, the company had a workforce of nearly 200 and generated revenues of nearly €40m ($57.5m) from international and domestic transports.
Italy is one of the most important foreign markets for DB Schenker Rail, with transports to and from Italy accounting for roughly a quarter of the company's total international revenues in 2008, the company said.
Related links
DB Schenker to Run UK's Royal Mail Rail Operations
