Globaltruck in negotiations to buy 300 more trucks, mulling M&A
MOSCOW. March 27 (Interfax) - Freight hauling company PJSC Globaltruck is in talks to acquire 250-300 long haul trucks to supplement a contract concluded at the end of 2017 for a 413-vehicle fleet expansion, Globaltruck CEO Alexander Eliseev told reporters on the sidelines of the"Trucking Market -2018" conference in Moscow on Tuesday.
In December 2017, the company signed a contract on delivery of 413 Volvo long haul trucks and Krone and Schmitz semi-trailers, the CEO said. "Deliveries will literally begin next week - that is from the end of March through August, in roughly equal installments each month. We are currently in talks with manufacturers for a further 250-300 long haul trucks," Eliseev said. "But we always approach this opportunistically: if we see inelastic demand - there will be more," he said.
"Furthermore, I make no secret of the fact that we are conducting negotiations on M&A deals, which, accordingly, will need to be financed somehow, and will be included in this volume of around 700 new road trains," Eliseev said, providing no further information about companies of interest. "We are looking at the whole market," he said, noting only that talk is of trucking companies.
In the medium term, Globaltrucks is planning to expand its fleet by 250-300 trucks per year, according to a company presentation.
The company is in talks with the 'big four' European auto manufacturers: Mercedes-Benz, MAN, Volvo, and Scania, Eliseev said. The company is also "looking at and testing" trucks from the new Kamaz range, but there is presently no talk of purchasing them, he said.