New Romtrans owners: We'll be happy to have the 2008 revenues
Schenker, the transport and logistics unit of Deutsche Bahn, which last year took over Romtrans company for around 90m euros according to ZF data, expects to recoup its investments within 8 to 10 years.
"We financed the deal from our own funds, and to recoup investments in 8-10 years, we have to be profitable," said Albin Budinsky, CEO of Schenker Romania.
He arrived in Romania in 1997 and started running the domestic subsidiary of Schenker in 2001 and when integration of the two companies is finished will take over the CEO position.
"The name of the new company will be DB Schenker Romtrans. Romtrans is better known in Romania and I don't believe we should change the name. We have to go through some bureaucratic stages and I believe we can act as a single company starting June or July," Budinsky also said.
Schenker bought over 99% in Romtrans stock that had previously been in the hands of the management and employees, in total 1,000 shareholders.
Romtrans is the biggest private company operating on the freight transport market (with the state-owned CFR Marfa as the leader), and Budinsky says this stirred the group's interest in the company.
"Before Romtrans, we had not looked at other acquisitions in Romania. We were already present on the market and we were not interested in buying a small player, but only a market leader. At present, we are not considering further acquisitions on the Romanian market," Budinsky also said.
He chose not to specify the value of turnover the two companies generated last year, only saying there was an increase. According to the latest data available in 2007, Schenker Romania posted turnover of around 20m euros, while Romtrans reached turnover worth above 90m euros.
"The global economic situation is not very good, and the
