Spanish Government confirms the segregation of Renfe in four companies

The Government confirms the segregation of Renfe in four companies Each will have their respective governing bodies and management.

The Cabinet has endorsed the project Friday Renfe segregation in four companies . With this measure, the Government intends to prepare the railway operator for the eventual entry of private competitors in the rail passenger transport.

This release is the final step to make the new structure planned earlier this year for the railway company . So , Renfe will become a holding company which will be four . Traveling Renfe Renfe Renfe Goods Manufacturing and Maintenance and assume the current business operator , while Renfe Rail Car hire Material will be devoted to the trains that the company does not use new operators.

The Ministry of Development has said in a statement that Renfe will " owns 100 % of the new companies " and " act as a matrix group and corporate services functions." Also, " defined policy business strategy of the company and will seek efficient management focused on corporate functions ." Each of the four new subsidiaries will have their respective governing bodies and management "to define its strategy and develop their productive activity , both in Spain and abroad."

The new subsidiary will assume the assets and assume the business workers , but also their corresponding liabilities. In this sense , Development notes that " the integration of Renfe personnel in each of the companies incorporated may not , under any circumstances increase endowments, salaries and other staff costs in the public sector."

New companies

According to the draft segregation Company adopted June Renfe travel will be born with a value of 2,386 million euros and 4,360 million liabilities . His foresight is touching 2,000 million euros of revenue and achieve gross operating profit (EBITDA ) of 227 million in 2014.

Renfe Freight will set off with a value of 377 million euros and 326.3 million in debt . The subsidiary plans to continue in "red numbers" at least next year.

Meanwhile , the new division Renfe Railway Car Material ( AMF ) born with liabilities of 112 million , linked to the trains that will manage . It will have a fleet of 51 passenger trains , including 19 AVE and twelve able to run both conventional and high-speed roads . 1,173 bums also operate cargo and goods.

The division of workshops, Renfe Manufacturing and Maintenance , is valued at 185 million euros and assumes a liability of 297 million.

See source (ES)