Transpoint International sells its road logistics business operations in the Baltics and the CEE countries to Greencarrier Freight Services

20.10.2020 14:54 News, Press releases

VR Group’s subsidiary Transpoint International (FI) Oy sells its road logistics business operations in the Baltics and the Central and Eastern Europe countries (CEE countries) to the Nordic Greencarrier Freight Services. Transpoint International (FI) takes care of VR Transpoint’s international road traffic.

“The market has undergone lots of changes over the years, and we have let go of international road traffic operations in Europe. Good progress has been made in the company and the people have done an excellent job. The operations are not, however, at the core of VR Transpoint’s strategy. “The business will continue to develop under the ownership of Greencarrier Freight Services that is fully committed to investing on these operations,” says VR Transpoint’s Senior Vice President Martti Koskinen.

”Transpoint International (FI) is a top player in Finland-to-Baltics on Road Freight with a very long history and a diversified client base. For us, this is an important and natural development on our journey to provide long term and sustainable solutions to the market and to our customers. Together with the transferring operations of Transpoint International (FI) in Baltics and CEE, we become one of the largest operators in the region, and we build a much stronger team and are able to provide our customers a wider offering within sustainable transportation solutions.” says Mikael Forsberg, CEO, Greencarrier Freight Services.

In this transaction, the road traffic business operations in the Baltics and the CEE countries will become wholly owned by Greencarrier Freight Services. Approximately 40 people work in the Estonian, Latvian and Lithuanian offices and in the CEE traffic operations in Helsinki who will transfer to the new employer. The transaction is conditional, subject to the approval of the Estonian competition authority.

The parties of the transactions have agreed to not disclose the purchase price. The transaction will not concern the Finnish parent company Transpoint International (FI) Oy owned by VR Group and the two Russian subsidiaries owned by Transpoint International (FI) Oy. The transaction will not affect VR Transpoint’s domestic road or rail logistics operations.

Related to: VR Group

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