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Suttons International Limited and VTG Tanktainer GmbH, a subsidiary of VTG Aktiengesellschaft, today announced the signing of an Asset Purchase Agreement. The agreement includes the acquisition of ISO tank containers, personnel, and customer contracts overseas, including VTG’s shares in the Brazilian joint venture MissionLine by Sutton.
(Hamburg) VTG’s participation in the joint venture COSCO VTG Tanktainer Co. Ltd. to serve the Chinese market is not part of the Suttons transaction. VTG Tanktainer and COSCO VTG Tanktainer Co. Ltd. will work together with Suttons in the coming months to develop the parameters for a trilateral partnership to ensure optimal support for the customers of the joint venture.
Suttons International Limited is part of the family-owned British Suttons Group. The world-leading logistics and supply chain specialist offers comprehensive solutions for liquid, gaseous, and powdered goods. With the acquisition, the company can better respond to customer needs and further strengthen its global orientation. VTG Aktiengesellschaft is a leading international wagon rental and rail logistics company with over 94,000 wagons worldwide and the largest private fleet in Europe. Suttons will take over the management of the acquired business in the coming months. During the transition phase, VTG Tanktainer will continue to manage the customer contracts, but both partners will jointly engage with employees, customers, suppliers, partners, and agents to shape future collaboration.
New Strategic Direction for the Business Field
With the sale of its overseas activities, VTG Aktiengesellschaft is strategically realigning the VTG Tanktainer business field. The focus of VTG Tanktainer will henceforth be on the global rental of tank containers, supported by integrated logistics services. “The goals of the realignment not only align with the group’s strategy to strengthen the asset business but can also meet the long-term profitability requirements for the operational business during and beyond the COVID crisis,” says Oksana Janssen, Chief Operating Officer Eurasia & Far East of VTG AG.
John Sutton, Managing Director of Suttons International Limited and CEO of the Suttons Group, states: “With this acquisition, we will expand our international presence and strengthen our market position, enabling us to better meet customer needs while providing even more opportunities for our employees. We aim to sustainably establish our international market position among the top 10 global tank container operators and integrate the new business activities into our robust management structure.”
Focus on the Rental Business
By focusing on the rental business, VTG is optimally positioned to meet the increasing customer demand for integrated intermodal logistics solutions. “The wide fleet offering, the comprehensive logistics network, and the expertise of VTG Tanktainer – especially in hazardous goods and chemical transport – provide an ideal basis for a global presence with focused logistics support in Europe and Eurasia,” says Klaus Wessing, Head of Business Field VTG Tanktainer.
John Sutton adds on behalf of the entire Suttons International Division: “We look forward to welcoming our new, highly valued colleagues to the company and continuing the successful implementation of our goal ‘Deliver Life’s Essentials Safely.'”
Photo: © VTG
