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BREMER LAGERHAUS-GESELLSCHAFT -AKTIENGESELLSCHAFT VON 1877-

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Bremer Lagerhaus Gesellschaft : Inauguration of most modern freight car shop in Europe

10/24/2014 | 04:26am EST

10/21/2014 16:20 Age: 3 days

Today BLG RailTec launched operation of one of Europe's most modern freight car shops in Falkenberg/Elster. In doing so, the company contributes to developing the Falkenberg facility into a major railway junction in Germany again.

The new railway car service center operated by BLG RailTec, a subsidiary of BLG AutoRail, is located on an area of 25,000 square meters. Preventive maintenance on freight cars, shunting operations, train marshalling and maintenance work on freight cars in accordance with the railway operation regulations number among the services performed. They are not only offered for in-house railway cars, but also for those of other owners. BLG RailTec employs 50 qualified staff members for this purpose at the Falkenberg location.

Numerous representatives from the local and state government who supported construction of the new shop took part in the inauguration ceremony. Frank Dreeke, CEO of BLG LOGISTICS, said in his welcoming speech: "You have all supported us with great commitment in one way or another, making it possible for us to realize our project here in Falkenberg on a happy note."

BLG RailTec purchased the marshalling yard in Falkenberg back in 2011. The facility is favorably located on one of the main rail lines to the North Sea ports of Bremerhaven, Emden and Hamburg, where BLG also carries out activities as a logistics company. In June 2011 the parties involved started to define the magnitude of and equipment for the new freight car shop. The Ministry of Economic Affairs of the federal state of Brandenburg supported the project, which entailed an investment volume of around 16 million euros, by providing funds to an amount of 1.1 million euros. "I congratulate BLG to this great project," said Kathrin Schneider, State Secretary of the Ministry for Infrastructure and Agriculture of the federal state of Brandenburg. "Brandenburg is a transit country and we appreciate it very much if along transit routes value and jobs are created, as BLG did in Falkenberg."

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Financials
Sales 2020 1 065 M 1 201 M 1 201 M
Net income 2020 1,12 M 1,26 M 1,26 M
Net Debt 2020 854 M 963 M 963 M
P/E ratio 2020 41,3x
Yield 2020 0,92%
Capitalization 42,2 M 47,8 M 47,6 M
EV / Sales 2019 0,70x
EV / Sales 2020 0,84x
Nbr of Employees 11 609
Free-Float 100%
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Managers and Directors
Frank Dreeke Chairman-Management Board
Jens Bieniek Chief Financial Officer
Karl-Heinz Dammann Member-Supervisory Board
Karoline Linnert Member-Supervisory Board
Patrick Wendisch Member-Supervisory Board