OREANDA-NEWS. Joint Stock Company Freight One (JSC Freight One, previously titled JSC "Independent Transport Company") acquired from JSC Russian Railways 50 percent minus one share of Gryazi Railcar Repair Depot (Gryazi RRD) in an open auction held in Moscow on September 19. The acquisition cost amounted to 151.2 mln rubles. Through this transaction Freight One consolidated 100 percent of Gryazi RRD.

Getting full control of Gryazi RRD enables further effective fulfillment of Freight One's plans of development, modernization and technical re-equipment of Gryazi RRD.

For reference: Gryazi Railcar Repair Depot located in the city of Gryazi, Lipetsk Oblast, specializes in current repairs and complete overhaul of various types of freight railcars (gondolas, platforms, pellet hoppers, and cement hoppers). The depot has been controlled by JSC "Independent Transport Company" since July 2010 as a joint venture with JSC Russian Railways.

In 2013 the volume of repairs at Gryazi RRD totaled 5 thousand rolling stock units.

In August 2014 as part of the ongoing merger between Joint Stock Company "Freight One" (JSC "Freight One") and Joint Stock Company "Independent Transport Company" (JSC "ITC"), it was resolved to rename Joint Stock Company "Independent Transport Company" (JSC "ITC") as Joint Stock Company Freight One (JSC Freight One).

The integration process between the two operators was launched in late 2012 to improve operational efficiency, cut costs and continue development of the unified company's service component. The first stage of integration was railcar fleet merger between JSC "Freight One" and JSC "ITC", and then over 2013-2014 the employees of JSC "ITC" were transferred to JSC "Freight One" staff.