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| SLOVENIA: Railways Seek Strategic Partnership with German Logistics Giant |
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2004-10-05 15:49:25 |
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The Slovenian Railways have launched negotiations on a strategic partnership with one of the world's four leading logistics companies, Stinnes of Germany, and would like to strike a binding agreement with it by the end of the year.
"With Stinnes, everybody in Slovenia gets the benefit, while I don't see synergy in partnership with Luka Koper," Slovenian Railways' general manager said in an interview published on Monday.
Borut Miklavcic spoke to business paper Finance before the first heavy goods train starts operating between Ljubljana and Istanbul in what he claims will bring China closer to Europe.
Speaking about cooperation with the manager of the only Slovenian port, Luka Koper, Miklavcic said it was good; 75 percent of all cargo comes to and from Koper by train, while the port accounts for more than 25 percent of the freight for the Railways.
"As we generate only 10 percent of all revenues on the domestic market, we find it most important to seek international partnerships," Miklavcic said.
Speaking about cooperation with Stinnes, which is owned by the German Railways, Miklavcic said the German Railways is acclaimed for its efficient and widespread network.
"They have a good opinion about us as a freight transporter, and what will be merely business cooperation at first may in time develop into a higher form of cooperation."
The Slovenian Railways' general manager intends to propose to the supervisory board and the general meeting even before the end of the year that a strategic contract be signed with Stinnes.
"Considering the first reactions, I'm positive my arguments will persuade the owners to give big interests priority over small ones," said the boss of the Slovenian Railways, a state-owned company.
Under Slovenian legislation, the German company can have an ownership stake of up to 49 percent, "but as long as we cooperate well, I don't see any need for a classic takeover, but if someone else bought us, people at Stinnes would certainly prick up their ears," Miklavcic told Finance.
Source: Slovene Press Agency STA
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The Event: SEEF 2004
