Confidence renewed

摘要

A new air of freedom, confidence and cer-tainty currently enlivens the Frankfurt/ Main headquarters of TFG Transfracht International, the German rail carrier and inter-modal operator. Just 19 months have passed since HHLA, the Hamburg terminal company, acquired 50% of Transfracht in May 2002. The balance of the shares is now held by Railion Deutschland AG, formerly known as DB Cargo, the German national railfreight operator. Transfracht was previously a wholly owned subsidiary of DB Cargo. Joint managing directors Maximilian von Haller and Klaus Niemohlmann expected, at the time of writing, that the Railion Deutschland AG shareholding would be transferred to Stinnes AG, the freight transport and logistics division of the DB Group. This would primarily be a legality, and when the transfer of shares will take place is not yet known. Since Transfracht ceased to be a wholly owned subsidiary of DB Cargo, the joint managing directors have enjoyed an enhanced freedom to make management and operating decisions. Niemohlmann was brought into the company (from the forwarder Hellmann) at the time of the HHLA acquisition, and von Haller was previously the sole managing director.