The Board of Directors of CFL Cargo met for the first time today at the headquarters of the CFL Board of Directors to officially create CFL Cargo. The meeting started with a minute of silence for the victims of the previous Wednesday’s train accident in Zoufftgen.
Under the chairmanship of Marc Wengler, the Board of Directors nominated Fernand Rippinger to the position of CEO of CFL Cargo.
This ambitious and unique industrial project had been initiated to create synergies and enables substantial savings, which will benefit both CFL and Arcelor Profil Luxemburg, a subsidiary of the Arcelor group. In the context of the opening of the freight market in 2006, this economically interesting perspective has led to the merger of the transportation departments of CFL and Arcelor Profil Luxemburg, the main Luxembourg freight client. The capital of the new company is held by CFL with 2/3 of the shares and by Arcelor Profil Luxemburg with 1/3 of the shares.
The Luxembourg social partners recognized early on the need for such a company, both for the future success of railway transport of goods and of the steel industry in Luxembourg, and endorsed the project in the context of the railway-Tripartite-agreement in December 2005.
The newly founded company takes over the entire railway transport of goods of the CFL subsidiaries EuroLuxCargo (Luxembourg), Neg Uetersen (Germany) and Dansk Jernbane Aps (Denmark) as well as the transports between the production site previously managed by Arcelor Profil Luxembourg and Arcelor Rodingen.
Initially, CFL Cargo has the personnel as well as the necessary material and financial means to gain new market shares in the railway transport of goods, but also to win some highway transport of goods. Over time, the transport volume (in ton-kilometres) should double.