The company has a 117-strong vehicle fleet, of which 60 are used in bus routes operated in Warsaw under a franchise from the municipality.
Egged Holdings, a subsidiary of national bus operator Egged has acquired 90% of Polish bus company Mobilis Sp, for €4 million. Mobilis has a fleet of 117 buses, of which 60 operate on bus routes in Warsaw under a franchise from the municipality. Egged Holdings will acquire the remaining 10% of the Polish bus company within twelve months.
Mobilis recently won an additional franchise from the Warsaw municipality for the operation of a string of routes in the northern section of the city, with an annual value of €4.5 million and total yearly mileage of four million kilometers. Mobilis will allocate 53 vehicles for the additional routes in the new franchise, which is for 10 years.
Egged chairman Arik Feldman said that East European markets were growing and contained business potential.
Published by Globes [online], Israel business news - www.globes.co.il - on December 10, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006