ČD Cargo, a.s. (VKM: ČDC) is a state-owned Czech railway operator focused on freight operations. It is a wholly-owned subsidiary of the passenger railway operator České dráhy. During the 1990s and 2000s, there were substantial efforts to restructure and modernise the railways of the Czech Republic; these included the founding of the railway operator České dráhy (Czech Railways) in January 2003. Seeking to reduce losses and become commercially competitive, various reforms were implemented, which included the centralisation of some activities (such as purchasing and internal stocking) while other activities were outsourced to third parties to increase efficiency; accordingly, employee headcount was reduced while new technologies were introduced. For the second phase of this restructuring, on 1 December 2007, České dráhy spun off its freight operations into the newly established subsidiary ČD Cargo. At the time of its creation, the value of transferred long term assets with original accounting value amounting to CZK 4.8 billion was increased by evaluation difference CZK 5.5 billion, as calculated by the advisory company YBN CONSULT. As a result, ownership equity amounted to CZK 9.1 billion and CZK 8.8 billion of registered capital was entered into the commercial register. More information...
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