Nurminen Logistics has announced that intends to sell all the wagons owned by its Russian subsidiary, OOO Nurminen Logistics, as the company decided to focus on the operation of railway cars in Russia. Potential sales would free up capital for the implementation of company’s growth projects.
“The Russian market for railway cars is strongly centred around five of the largest market operators, and as the railway market in Finland does not show any signs of opening up in the near future, Nurminen Logistics has decided to pursue the option of selling the share capital of OOO Nurminen Logistics. Nurminen Logistics would continue its railway operations and forwarding business in Russia,” the company says.
Nurminen Logistics explains that the Russian rail car market has recently experienced high demand and limited supply and, as a result, the price of cars is currently very high. Additionally, the sale of the cars would exclude any risks related to the changing value of the Russian rouble.
This arrangement would free up capital for the development of other business activities, while maintaining the company’s position in the Russian railway market.
The objective is for the arrangement to be implemented during 2018.