VTG AG sheds its Russian business

VTG AG sheds its Russian business

Because of the war of aggression against Ukraine and the sanctions imposed on Russia, VTG AG has decided to discontinue its business activities in Russia and divest its business units.

This move concerns both the wagon leasing and project logistics activities in Russia, which were acquired by international investors.

“We, the management of VTG, continue to condemn Russia’s war of aggression against Ukraine in the strongest terms. In light of this situation, we have decided to discontinue our Russian business activities and sell the relevant VTG organizational units,” says Oksana Janssen, Chief Operating Officer Eurasia & Far East, explaining the company’s decision. “We have reached a geopolitical turning point that is bringing terrible suffering to the people of Ukraine, but that is also bringing fundamental change on the global political stage and to the world’s economy. As a company, we too must face up to this new reality. It is important that we play our part in upholding the founding principles that define the European Union as a place of peace, democracy and human rights, and that this commitment is also reflected in our business activities.”

Headquartered in Hamburg, VTG AG is a global asset and logistics company with a strong focus on rail. Besides leasing out rail freight wagons and tank containers, the Group also provides multimodal logistical services and integrated digital solutions. Its fleet comprises around 88,500 rail freight wagons – mostly tank cars, modular freight wagons, standard freight wagons and sliding-wall wagons – plus about 5,000 tank containers.

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