PSA International (PSA) subsidiary, PSA Baltics N.V., has agreed to acquire an 85% majority stake in Loconi International S.A. on Aug 10. The stake was acquired from the publicly traded Polish freight forwarder, ATC Cargo S.A.
Loconi is one of Poland's leading intermodal operators established in 2011 that provides logistics solutions for shipping companies and freight forwarders that integrate rail transport, last mile rail transport and depot services for containerised cargo.
With the acquistion of Loconi, Baltic Hub, a joint venture (JV) between PSA, the Polish Development Fund (PFR) and IFM Investment Fund, is poised to supplement its rail product offerings originating from Gdansk.
"As we welcome Loconi into the PSA family, we are excited about the potential for positive impact this acquisition will bring to our joint operations as well as the wider logistics industry in Poland, Eastern and Central Europe. Loconi will play an important part in our Node-to-Network strategy in going beyond terminal services and growing our role as a port ecosystem player, through the development of port-adjacent services, such as intermodal connectivity and digitalisation," says Vincent Ng, regional CEO of PSA Europe & Mediterranean and PSA Middle East South Asia. "This move underscores our commitment to innovation and superior customer service, paving the way for a more interconnected and efficient port and supply chain network in the region.”
“Our intention was to find a long-term partner who would support us onward in our exciting journey to enable the shift from road to rail. For years, we have paid special attention to developing effective rail-based transport solutions which can serve as a true alternative to road transport and thus genuinely add value to the ecosystems of our customers, partners and local communities," says Lidia Dziewierska, CEO of Loconi Intermodal.
"Our ambition has been to remain creative and dynamic as we grow and the journey continues. We believe that PSA is an excellent partner to ensure that these Loconi values remain relevant and that all intermodal stakeholders take better advantage of the untapped potential of rail transport in this part of Europe. We are happy to have come across a global player with such a clear understanding and due regard for the local folklore of the transport business. The entire Loconi team is excited to become a member of the PSA Group and explore the opportunities it will open up for us and our clients.”
