Changes in corporate structure and real estate transactions
The State of Finland, the owner of VR Group, separated Finrail Oy, a provider of rail traffic control, passenger information and planning services from VR Group. Finrail started as an independent company on 1 January 2015. The separation was implemented by transferring the shares to the State of Finland as dividends. Finrail’s net sales for 2014 were EUR 36 million. The company had 460 people on its payroll and most of them worked as traffic controllers.
Transpoint International (FI) Oy, the international road logistics company of VR Group, sold its Hungarian subsidiary to the Hungarian Trans-Sped group on 30 June 2015. Transpoint International (HU) Kft has operated in the warehousing logistics market in western Hungary as well as in road logistics between eastern parts of Central Europe and Finland. With the sale, the 131 employees of the company will transfer to the new owner.
On 26 May 2015, VR Track and the companies belonging to the Vossloh Group concluded an agreement on the establishment of two companies. These are the affiliated companies Vossloh Cogifer Finland Oy and Vossloh Rail Services Oy. VR Track has an ownership of 40 per cent in both companies. As part of the arrangement, VR Track’s switch production and rail welding operations were sold to the new companies. The aim of the arrangement is provide a stronger basis for expanding and developing switch production and rail welding operations. The production and a total of 64 employees transferred to the new companies on 30 June 2015.
Profits on the sale of real estate totalled EUR 17.4 million in 2015.