Optifin Invest sold its share in MMV

The Hungarian press reports that private railway company Magyar Magánvasút Zrt. (MMV) has been solely in Hungarian hands since the start of this year. Until then, it was owned by Hungarian Petrolsped and Slovak Optifin Invest with 50% share. However, the latter sold its share to Petrolsped lead by Zsolt Kelényi, Béla Nagy a László Kozár. According to media, this change will simplify operation of MMV, which was obliged to reassess their activities and future steps.

Eva Tamás-Vadnai, CEO at MMV, told journalists about her worries of growing competition. She mentioned Slovak carriers transporting cargo through several countries and making profit by adjusting their rates to local regulations and market environment. This allows them to provide freight transport in Hungary at prices creating a significant competitive disadvantage for local companies and making them less competitive.

MMV plans to expand their operation to foreign countries. The company obtained freight licence in Slovakia two years ago, however, it operates more frequently in cooperation with Slovak subsidiary Petrolsped licensed in the Czech Republic as well. At the end of last year, MMV obtained Austrian safety certificate and it is preparing to obtain Romanian and Croatian certificates.

Budapest-based MMV was established in 2003 and it is involved in logistics, railway freight transport and freight wagon leasing. It has 12 locomotives in its fleet – mainly Romanian ones, 95 open wagons, 37 cistern wagons and 35 container freight wagons. In 2013, it allegedly transported ca. 2.3 million tons of cargo with 4.7% market share.


source: foreign sources