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C.S.CARGO Group increased the capital of key daughter companies
Management of the company returns back to the Czech Republic.
PRAGUE (June 26, 2012) – During June C.S.CARGO Group finalised a complex project of property and financial restructuring, whose part was increase in the registered capital of daughter companies in the Czech Republic and in Slovakia, decrease in the share of external sources of the Group’s financing and transfer of the holding’s central management from the Netherlands to the Czech Republic.
By the end of last year, C.S.CARGO Group started an overall restructuring process after entry of the new majority owner, the company Tuffieh Funds SICAV plc (TFS), which included audit and effectiveness assessment of the firm’s individual activities and changes in the company’s organisational structure.
Shareholder’s capital of the companies C.S.CARGO a.s., and C.S.CARGO Slovakia, a.s., was increased within the project’s realisation by 600M CZK and 180M CZK respectively. The Group’s property holding was transferred from the Netherlands to the Czech Republic where the new CS CARGO Holding, a.s. was established. But the actual management returned to the Jičín company C.S.CARGO a.s., which is a 100 % daughter firm of the newly founded holding (see attached organisational structure).
“C.S.CARGO has been and is a Czech-Slovak transport and logistics company. We are returning the management to Jičín, where there is the firm’s history, huge human resources capital and knowledge“, mentioned Jan Blaško, founding partner of TFS and Chairman of the Board of Directors in the company C.S.CARGO a.s.
Entry of the new owner enabled C.S.CARGO Group to use other forms of financing and to create its new structure, and thus to significantly decrease the share of external sources in the Group’s financing compared to the original status. Also the managerial team was reduced and renewed within the reorganisation and business conditions with key suppliers were renegotiated.
“Thanks to the capital increase, significant decrease in external financing, involvement of the whole new managerial team and restructuring of the property structure, we will be (not only financially) more stable and also able to react to market challenges and especially to the needs of our clients in a better and more flexible way,“ adds Jan Blaško.
C.S.CARGO is a partner of the unique Memory of Nations YES/NO exhibiton, which is open for viewing in a special truck at Náměstí Míru in Prague until 19 October
C.S.CARGO is a partner of the Memory of Nations: YES/NO international exhibition, which is currently culminating at Náměstí Míru in Prague. The exhibition is housed in a truck and in a unique manner tells the story of people from various countries who became informants of the communist secret police or, conversely, bravely defied totalitarian power. The unusual truck previously passed through six European countries and reached the end of its journey in Prague. The exhibition is open to visitors free of charge until 19 October.
Aleš Willert becomes new general manager of the entire C.S.CARGO group. Petr Volák takes over management of the Czech company C.S.CARGO
Prague, 13 September 2018 – Aleš Willert, until recently the general manager of C.S.CARGO, became the general manager of the entire C.S.CARGO Holding a.s. group on 1 September. He was replaced at C.S.CARGO a.s. by Petr Volák. The purpose of these changes is to enhance synergies of all countries where C.S.CARGO operates, mutual cooperation and exploitation of business opportunities.
C.S.CARGO is a partner of the Letní Letná festival and supporter of the spectacular opening show .
C.S.CARGO is a partner of this year’s edition of the Letní Letná international festival. The event featuring performances by foreign and Czech stars of contemporary circus will take place in Prague from 15 August to 2 September. In addition to the festival itself, C.S.CARGO is also a supporter of the spectacular opening of the festival in the form of an open air show titled De Nova Stella, which was created on the occasion of the festival’s fifteenth anniversary. This free show will be performed twice, on Wednesday, 15 August, and Thursday, 16 August.
C.S.CARGO Group 2017 revenues increased to CZK 4.7 billion
Prague, 2 July 2018 – Last year, the revenues of C.S.CARGO Group, haulage and logistic services provider, went up to close to CZK 4.7 billion. The logistic services segment was a major contributor, as a result of a 40% increase of warehouse capacity, seconded by a higher demand for deliveries to Russia and all former CIS states. The Group also invested more than CZK 200 million in the upgrade of its fleet of trucks over the period.
C.S.CARGO a.s. is a partner of the Forman Brothers Theatre’s ARENA festival for the second year
The Forman Brothers Theatre’s ARENA is a festival of theatre, new circus, music and contemporary visual art. The purpose of the festival is to create more space in the centre of Prague that visitors can use for cultural experiences and relaxation.
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