Nurminen Logistics Plc Stock Exchange Release 22
September 2016 at 11.00 am
Nurminen Logistics Group start the strategic collaboration with the Russian
Rustranscom group. This will see the creation of a jointly owned company, NR
Rail, a subsidiary of the Nurminen Logistics Group, that will offer new
alternatives for import and export traffic between Finland and Russia.
Rustranscom is one of the largest providers in a number of areas, including
forest industry and agricultural products railway transport, with a rolling
stock encompassing more than 44,000 wagons.
The new agreement on international railway transport concluded between Finland
and Russia is due to be ratified in the near future. In practice, the bi-lateral
agreement sees the deregulation of rail transport between Finland and Russia in
the Finnish rail network. Previously, this was subject to a Finnish State
Railways (VR) monopoly. The change will be significant, as the total value of
the railway logistics market in Finland is valued at EUR 450 million, with rail
transport connecting Finland and Russia accounting for around a third of this.
NR Rail is due to invest in modern locomotives and enhanced cost-effectiveness.
The amount and the schedule of investment in locomotives will depend on the
development of customer volumes. In future, Nurminen Logistics will be able to
offer its own locomotives as part of a comprehensive service offering comprising
wagons, terminals, railway yards and forwarding services at border crossings in
Imatra, Niirala and Vainikkala.
“I am excited at the prospect of this new venture between our two companies.
This will allow us to expand Nurminen Logistics’ entire service offering. What’s
more, we will be able to offer an even longer value chain. The aim is to start
the locomotive business in the second half of 2017. What we are setting out to
do is to maintain our commitment to developing cost-effective and transparent
logistics services to benefit Finnish import and export industries,” Marko
Tuunainen, President and CEO at Nurminen Logistics, said.
Nurminen Logistics Plc
Marko Tuunainen
President and CEO
For more information, please contact: Marko Tuunainen, President and CEO
Tel. +358 10 545 7011
DISTRIBUTION
Nasdaq Helsinki
Major Media
www.nurminenlogistics.com
Nurminen Logistics is a listed company established in 1886 that offers logistics
services. The company provides high-quality forwarding, cargo handling and value
added services as well as railway transports and related to it project transport
services to its customers. The main market areas of Nurminen Logistics are
Finland, Russia and its neighbouring countries.
