Turnaround of RCA Is „Very Close“

People ♦ Published: September 19, 2011; 13:59 ♦ (Vindobona)

The restructuring process of the Rail Cargo Hungaria, a subsidiary of the Austrian Federal Railways (ÖBB) is going on. The rail cargo segment reports better results than expected.

Turnaround of RCA Is „Very Close“ / Picture: © ÖBB-Holding AG / Sabine Hauswirth

“Our connections to the Hungarian trade union and the public authorities developed well. Soon we will be able to deepen our collaboration.”, CEO of ÖBB, Christian Kern, announces.

Rail Cargo Hungaria (RCH) still suffers from losses. In 2008, ÖBB purchased the former MAV Cargo for € 420m. Now, RCH´s value is about € 120m. However, Kern believes that the turnaround may…