CFF, Switzerland’s state-owned railway company, has bought back a minority 35% stake in CFF Cargo from Swiss Combi.
With this share buyback, CFF wants to strengthen its commitment to freight traffic and manage it single-handedly, according to a statement released by the company. From now on, freight transport will once again be managed at group level. CFF is thus simplifying its management structure and preparing for possible state aid for the transit of single wagons.
With this transaction, the value of which has been disclosed to us by the Swiss railway group’s officials, CFF is putting the “Swiss Cargo Logistics” concept into practice. CFF Cargo becomes a wholly-owned subsidiary of CFF and the former minority shareholder Swiss Combi becomes a strategic partner.
Until now, the management of CFF Cargo operated based on a coordinating mandate and was not represented in the Group’s management.
Alexander Muhm is the new head of CFF Cargo
The new head of CFF Cargo is Alexander Muhm, now head of CFF Immobilier, who will assume his duties on 26 June.
In addition to his role as Head of Real Estate Operations at CFF, Alexander Muhm has helped to shape the new “Swiss Cargo Logistics” freight concept. He is also a member of the board of the combined transport operator Hupac.
Alexander Muhm succeeds Désirée Baer, who has been in charge of freight activities since 2020. In his new role, the new director will be responsible for three SBB subsidiaries, including the new company CFF Intermodal. The latter will be responsible for designing and building a loading terminal infrastructure covering the whole of Switzerland.
This is the realisation of the concept launched last autumn, which aims to transport three-fifths more freight in core business by 2050. To achieve this stated goal, five new terminals are planned for combined traffic between Geneva and St. Gallen.
CFF considered the separation from Swiss Combi “imperative” because the new economic context requires a clear separation between customers and shareholders. However, cooperation with Swiss Combi will remain close from now on.
Share on:
