Locus Traxx chose Wallonia to conquer the European market. The US company created its European branch on Friday. Active in real time goods monitoring, the company partners with Vitrociset, a specialist in satellite tracking. Locus Traxx will invest € 4 million and will create 40 jobs within 3 years.
The agreement to create a new company called Locus Traxx Worldwide Europe was signed this 24th of January 2014 in front of Philippe Courard, Federal Minister of Science Policy, Bernard Caprasse, Governor of the Belgian Province of Luxembourg, Elie Deblire, President of IDELUX, Giorgio Zappa, CEO of Vitrociset and David Benjamin, CEO of Locus Traxx USA.
This 50/50 joint venture between Locus Traxx, specialist in perishable goods transport tracking and Vitrociset Belgium, expert in satellite software and technologies, will allow tracking in real time of perishable and high added value goods in Europe.
This new entity will install its European headquarters at the Galaxia business Park in Transinne. The company plans to market a thorough tracking service of goods by providing the customers with both position and a number of critical parameters. It is important to point out that the position and transfer of information will be provided by satellite. At the beginning of operations, 10 new jobs will be created at the Galaxia Business Centre. The joint venture however foresees the creation of a total 40 new jobs within the first 3 years.
The overall investment amounts to about 4 million euros over a three year period.
The rapid growth of activities of the American company are expected to be identical for the European sister company considering 2 main factors. First of all the absence of a company in Europe or in its neighboring countries that can offer characteristics and performances similar to the ones offered by Locus Traxx. Not to mention the position of Belgium in the heart of Europe. As a matter of fact the European Commission’s transport network called « Multimodal TEN-T Core Network with the Core Network Corridors », required to facilitate exchanges between countries, will consist of 9 main corridors (TEN-T corridors), of which 3 cross Belgium, namely the “North Sea-Baltic corridor”, the “Rhine-Alpine corridor” and the North Sea-Mediterranean corridor”. The new European policy to establish these infrastructures foresees an investment budget of 26 billion euros.
The first exchanges with potential clients and partners have been very promising during these first 6 months and the first contracts will be finalized and signed during the month of February.
An investment that confirms Galaxias’ success
As part of its economic development, the business development agency for Belgian Luxembourg, IDELUX is very pleased to announce a significant new investment in the province of Luxembourg. The joint venture between Locus Traxx and Vitrociset Belgium shows the complementarity of two sectors identified as strategic in the Belgian province of Luxembourg: namely space and logistics.
With the establishment of this new company in the business park dedicated to space applications, Galaxia continues its internationalization approach. Its business center opened in December 2008, and labeled ESA Business Incubation Center, is nearly completely occupied. With Locus Traxx Worldwide Europe, 7 companies representing 5 countries employ a total of 50 staff: ESNAH, Eutralex Aerospace, M3 Systems, Redu Space Services, SES Astra and Vitrociset Belgium.