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Rail World, Mid Europa Partners consortium to bid on Hungary's state-owned MÁV Cargo

Rail World Inc. has teamed up with Mid Europa Partners to bid on Hungarian government-owned freight railroad MÁV Cargo Zrt.

The parties formed consortium Cargo Central Europe to combine Rail World’s railway operations expertise with Mid Europa’s financial experience and knowledge of central Europe.

If Cargo Central Europe submits the winning privatization bid, the consortium plans to maintain MÁV Cargo’s national identity and retain management locally. The consortium also would work with local management to revitalize the railroad by improving customer service, upgrading rolling stock and establishing strategic partnerships.

“As the first state-owned company of its kind in central eastern Europe to undergo privatization, MÁV Cargo has a very good chance to gain considerable competitive advantage to lead and catalyze consolidation of the rail freight industry in the region,” said Edward Burkhardt, Rail World’s president and chief executive officer — who helped privatize four British freight-rail companies in 1995 and the Estonian Railways in 2001 — in a prepared statement.

Contact Progressive Railroading editorial staff.

More News from 7/18/2007