Rail freight, CFI acquires Railone

Rome - The company CFI – Compagnia Ferroviaria Italiana – announced that it has acquired the freight rail company Railone from the Toto Group, the historical owner of the Civil Aviation company Airone, for a value of €8.6 million. With the addition of Railone (7.5 million), CFI’s revenue for 2015, taking into account the effects of the acquisition for only two months, will be 36.7 million, with an overall prediction for 2016 of about 47.5 million. But its EBITDA will be 3.6 million. Its tangible assets have also grown because of this operation, allowing CFI to expand further with its 14 locomotives, 650 wagons and 136 employees.