Spin-off of the tank-container transportation business
RNS Number : 7282Q
14 September 2017
Spin-off of the Transportation equipment for shipping cargo via various means of transport. Containers are durable enough for repeated use and can be stacked. Containers are divided into medium-duty (three- and five-tonne), which conform to former Soviet Union standards and are still used for shipments in Russia and the CIS, and ISO (20- and 40-foot) containers, which are used for Russian and international shipments. The universal standard unit TEU (twenty-foot equivalent unit) was introduced to measure transport flow volumes.
tank-container transportation business
PJSC TransContainer ("TransContainer" or the "Company") (TRCN), Russia's leading intermodal container transportation and The process of organising a chain of delivery, and managing that chain in the broadest sense. This chain may encompass both deliveries of raw materials needed for production and management of material resources at an enterprise, delivery to warehouses and distribution centres, sorting, handling, and final distribution at the points of consumption. In the context of transportation services, the main service is that of delivering cargo across a delivery route.
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 A container that consists of two basic elements: one or more tanks and a frame manufactured to ISO 1496-3.
tank container transportation and widen a range of high-quality intermodal container transportation services provided to its existing and new customers.
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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 A specialised type of rolling stock designed to carry ISO containers.
flatcar fleet size, container transportation by rail and rail-side A place equipped for the trans-shipment and storage of containers. A container terminal
typically includes one or more container yards. Rail-based container terminals are equipped with spur tracks for loading and unloading containers to/from railroad platforms (cars).
container terminal throughput. 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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