Mitsui acquires Dispolok from Siemens

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Mitsui has reached a basic agreement with Siemens Transportation Systems to acquire its locomotive leasing company Siemens Dispolok.

has reached a basic agreement with

(TS) to acquire its locomotive leasing company

.

Dispolok, a subsidiary of Siemens TS, currently leases approximately 100 locomotives in Germany, Austria and Italy and further central and eastern European countries. The transaction is subject to customary regulatory approvals and expected to close in November 2006. The purchase price has not been disclosed.

Mitsui has also ordered 50 electric locomotives from Siemens TS, in a deal worth about €160m, with delivery scheduled over the next three years.

Following the acquisition, Mitsui will lease 150 locomotives through MRCE and Dispolok, establishing an operating base which covers the whole European continent. Mitsui also aims to diversify its activities into logistics and freight transportation services using railways in this region.

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