12.11.2008 18:50:00 CET
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TOUAX Group ACQUIRES A CONTAINER FLEET FROM C & CONTAINER LEASING CO. LTD
TOUAX Group is very pleased to announce that its subsidiary Gold Container Investment finalized the acquisition of a container fleet from C & Container Leasing Co. Ltd.
The acquired portfolio consists of 16 350 teus (twenty-foot equivalent units) of standardized 20', 40' and 40' HC containers that are less than 2 years old and are leased on a long term basis to major Asian and European shipping lines.
Gold Container is dedicated to increase the availability of equipment to its clients world-wide and to maintain a high level of quality service and reliability.
The acquisition was financed by a third party investor with whom the TOUAX Group has had a successful business relationship for more than 15 years, and Gold Container Leasing will manage this fleet on the investors' behalf.
With this acquisition, Gold Container will manage a fleet over 500,000 teus (twenty-foot equivalent units) and is the largest continental European lessor of shipping containers and ranking number 9 in the world.
C & Container Leasing Co Ltd is a container leasing company established in Korea and affiliated with Shipping and Ship Building giant C & Group.
A crisis-orientated strategy:
To deal with the current crisis, the TOUAX Group has adjusted its development strategy in order to take advantage of significant opportunities that may become available. The Group's development is driven by organic growth via the new-equipment market and the acquisition of existing equipment fleets. With organic growth slowing in the current crisis, the TOUAX Group has decided to selectively undertake acquisitions. These transactions are carried out in partnership with outside investors, enabling the Group to create economies of scale by increasing its fleet under management, and to grow its recurring management fees, all without negatively impacting its balance sheet.
The TOUAX Group provides its operational leasing services to a global customer base, both for its own account and on behalf of investors. As European market leader in leasing of shipping containers and river barges and one of the major players for the modular buildings and freight railcars, TOUAX is well positioned to take advantage of the rapid growth in corporate outsourcing of non-strategic assets by offering them efficient and flexible leasing solutions. The Group's diversification and the synergy of its four business segments (shipping containers, modular buildings, river barges, and freight railcars) provide a solid foundation and considerable potential for growth. In 2007 the Group posted revenues of €278.1 million (+10%), with net attributable income totaling €11.7 million (+63%).
TOUAX is listed in Paris on NYSE EURONEXT - Euronext Paris Compartment B (ISIN code FR0000033003). www.touax.com
Contacts:
TOUAX Fabrice & Raphaël WALEWSKI Managers touax@touax.com +33 (0)1 46 96 18 00
Media relations Sylvie Jovillard Sylvie Jovillard Conseil jovillard.conseil.sylvie@wanadoo.fr +33 (0)6 20 50 19 89
Financial communications Jean-Yves BARBARA ACTIFIN jybarbara@actifin.fr +33 (0)1 56 88 11 11