TransContainer OJSC and LG Electronics (South Korea) have come to an agreement on long-term cooperation
On September 27, 2006 official negotiations between Peter Bascov, Director General of TransContainer OJSC, and Dennis Ahn, President of South Korean LG Electronics Inc. in CIS countries, resulted in agreement on long-term cooperation and creation of a working group for determination of contract conditions. This information has been provided IA RZhD-Partner.Ru referring to the press service of Russian company. The parties have discussed the conditions of supply of component parts and finished products from South Korea by container trains of TransContainer OJSC, Russia’s national container operator. LG Electronics Inc. Has been supplying its finished products from 1991 by sea via Finland ports – the route, which takes twice as much time as it could be in case of railway transportation via the ports of the Far East. From November 2006 TransContainer OJSC starts organization of an integrated service for supply of component parts to LG Electronics RUS from South Korea (Pusan) by railway route: Nakhodka-Vostochnaya-Moscow; for supply of Russian component parts by national routes and for further supply of finished products at the territory of Russian Federation and CIS countries. Integrated service enables TransContainer company to optimize service costs both at foreign and national routes. In South Korea the service will be operated by TransContainer company’s own agency.
TransContainer company undertakes to provide sufficient amount of its own rolling stock and containers for the service. According to the experts of LG Electronics RUS volume required for 2007 amounts to 24 thou TEUs. Peter Baskov, Director General of TransContainer OJSC, commented the results of the official negotiations: “Our company considers cooperation with LG Electronics Inc. not only as our internal business purpose but also as implementation of national objectives on development of economic, political and social relations within Europe-Asia territory.
