EU approves SNCF Geodis’s takeover of Ermewa

News 22 Jan 2010 by WCN Editorial

French Rail now has outright ownership of Europe’s leading tank wagon and tank container leasing company

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As previously reported, SNCF Geodis, which already controlled 49.6% of Ermewa, announced last June that it would be buying the 50.4% stake owned by Private Equity investment fund.

The deal was subject to EU competition authority approval and this was granted today.

Pierre Blayau, CEO of SNCF Geodis, commented: “With Ermewa, the SNCF Geodis Division is enhancing its portfolio and gaining a foothold in the gas and chemical container hire business.

“It is taking control of a profitable company that has proven the robustness of its business model over the past years. This acquisition will also help to accelerate the development at European level of the Asset Management unit.

“It also will structure this unit, which can rely on Ermewa’s management, with Josef Küttel remaining chairman and chief executive officer.”

Ermewa has 515 employees and 30 units located in 20 countries, with the head office in Switzerland. Consolidated revenue was €383.9M in 2008.

Ermewa Group’s leading brands are Ermewa, Eurotainer and CCR (IBCs/mini-tanks).