Globaltrans Bounces Back From PGK Disappointment With Controlling Stake In BaltTransServis

BMI's Russia rail freight consolidation view starts to play out as Globaltrans takes a controlling stake is BaltTransServis. The company may have lost out on the opportunity to buy a controlling stake in the country's largest rail freight operator Freight One (PGK), after it pulled out of the bidding prior to the auction, the stake in PGK instead went to Vladimir Lisin's Independent Transportation Company (ITC), a subsidiary of Universal Cargo Logistics Holding (UCL) in November 2011, but Globaltrans is seeking to increase its market share and is doing so via a two prong strategy that will increase its wagon fleet size and also its expertise in the traction market.

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