Corporate News – 29 May 2018

Aves expands Rail portfolio by purchasing tank wagons for EUR 8.5 million

Aves One AG (Aves) has for the first time also added tank wagons to expand the Rail segment portfolio by purchasing 117 new and used petroleum and chemicals wagons. Aves previously invested exclusively in standard freight wagons. The purchase price is around EUR 8.5 million. All the tank wagons are leased to reputable companies in the chemicals and petrochemicals sector. UniCredit Leasing is financing the purchase.

As Aves One AG Management Board member Jürgen Bauer explains: “The freight wagon rental market comprises essentially two big segments – standard freight wagons and tank wagons for liquid and gaseous products. The standard freight wagon market in particular has grown very quickly in recent years, which is why we focused our investment activities on this growth market. Nonetheless, the tank wagon rental market has a relevant market share. Moreover, this business is regarded as especially stable and resistant to cyclical economic downturns. Therefore, Aves will also invest more heavily in this traditional market in the future. This acquisition of 117 tank wagons is the first step into this segment.”