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ŽOS Vrútky stake bought by freight operator

02 Oct 2017

SLOVAKIA: Budamar Logistics acquired a 33% stake in rolling stock manufacturer ŽOS Vrútky on September 20, with the aim of securing a stable partner for the maintenance and repair of its wagon fleet. The remaining 67 % is still held by former politician Víťazoslav Móric.

Most of ŽOS Vrútky’s business comes from state-owned train operators. It has 900 employees, and in 2016 recorded a loss of €5m owing to a 62% drop in sales to €44·9m.

Budamar is owned by Claudio Frick of Liechtenstein and Kristen Mikkel Volmer Lind of Denmark. It is the second largest rail freight operator in Slovakia after state-owned ZSSK Cargo, and is also active in road and water transport.