Timetoget - Disestablishment

Disestablishment

The first trial with the Y1 railcars was performed on 1 August 2000. The one unit was not able to complete the route due to technical problems, but the other train was able to. Terje Bulling, the CEO of Timetoget, stated that he was aiming for 140,000 passengers in 2001, but was worried because NSB, due to lack of engineers, was driving passengers with by taxi between Notodden Station and Nordagutu. On 5 October, Vidar Østreng, vice president in NSB and chairman of Timetoget, announced that NSB, due to lack of engineers, would have to reduce the production of train services. He indicated that the least profitable routes, including the Bratsberg Line, would be closed. At the same time, NSB said one possibility could be that they sold their 89% stake in the company, thereby bypassing NSB's rules for engineer training. Five days later, the engineers in NSB stated that they would not operate trains between Larvik Station and Skien, and Kongsberg Station and Bø Station, if Timetoget was allowed to operate. These sections of the Vestfold Line and Sørlandet Line, respectively, are shared with the Bratsberg Line. The engineers considered lack of sufficient training such a safety risk that it would not be secure to operate on the lines. At the same time, NSB announced that they would stop operating trains on the Bratsberg Line from 20 October.

Timetoget started negotiations with the Swedish company BK Tåg to try to establish a cooperation that would allow Swedish engineers to be used. At the same time, the minority shareholders, who owned 11% of the company, demanded that they could take over NSB's shares without compensation, and that all debt to NSB be deleted. Arne Wam responded by stating that NSB wanted to liquidate the company. NSB therefore offered to purchase all shares in the company at par value, despite the company not having any net assets.

By 2 November, all owners, except the two environmental organizations the Norwegian Society for the Conservation of Nature and Nature and Youth, had sold their shares to NSB. The two environmental organizations owned 7 of 40,000 shares of the company. At the general meeting the same day, the company was liquidated, even though the two organizations opposed. Prior to the meeting, the other minority owners had held a tactics meeting to discuss what to do. Several municipalities were concerned that they would lose even more money if they did not sell. The other minority owners agreed to cover the costs of the two environmental organizations, and let them make the principal stand to oppose the liquidation.

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