Eurosib SPb–Transportation Systems, CJSC is Closing the Transaction of Taking over Magistral Ltd.

Eurosib SPb–Transportation Systems, CJSC reports on closing the business transaction in purchase of 100% shares of Magistral Ltd. (town of Podporozhie). As a result, Eurosib SPb–Transportation Systems has gained an opportunity to develop new services in the field of shunting operations on receipt lines of general and special use.

The absolute owner of Magistral Ltd used to be Metsaliitto Podporozhie Ltd with 99% of shares held. Magistral Ltd specialized in rendering services in delivering and removal rail cars on lines of Podporozhie railway station, including car spotting in loading/unloading areas.

Denis Uchaev, Development Director of Eurosib SPb-Transportation Systems, stated, ‘Taking over Magistral Ltd. will allow fortifying the Company's position as one of the largest rolling stock private operators and entering the promising and relatively new for us segment of services of commercial railroad transportation. We hope that introduction of such a service will open new possibilities for growth of the Company.'

In prospect, Eurosib SPb-Transportation Systems is planning to develop this direction and the company purchased may become the base for assets consolidation in the field of switch locomotive operations.

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