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Rail Cargo Hungaria seeks to boost market share over 80%

Deals

Rail Cargo Hungaria, a unit of Austrian railway company OBB, wants to raise its market share from 80% at present through acquisitions and long-term contracts, business daily Világgazdasag said on Wednesday, citing the company's management.

Rail Cargo Hungaria signed two big contracts in January, one in the construction sector and the other with a partner in the farm sector. The company also recently signed a cooperation agreement with Záhony-Port -- a company working to turn Záhony (E Hungary) into a logistics hub for the entire region -- with the aim of boosting transit activity, and it signed a framework contract that runs until 2016 with MÁV Trakció on traction tasks.

Rail Cargo Hungaria is raising its service fees in line with inflation in 2012, the paper said.

Last year, Rail Cargo Hungaria delivered 35.2 million tonnes of freight, about the same as in 2010. The company finished last year in the black, based on preliminary results, because of price changes and cost reductions. This year, the management expects "genuine profit", the paper said.

Last year, Rail Cargo Hungaria acquired 187 railcars and manufactured 55 of its own specialized railcars for heavy loads.

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