Station naming deals announced
Runaway Rail Car Kicked Loose by Teen Hits New York Station
Škoda unveils its second tram for the Chinese market
Wabtec to buy Faiveley Transport for US$1·8bn
Constantine tram extension contract
Channel Tunnel: '2,000 migrants' tried to enter
Ottawa urban rail gets federal funding
UK and Italian operators order Vossloh locomotives
First Great Western and Eversholt sign Hitachi AT300 train contract
Tanzania, Rwanda and Burundi invite interest in DIKKM railway
The sale of Vossloh AG's Electrical Systems business unit to Knorr-Bremse Systeme für Schienenfahrzeuge GmbH was completed on January 30, following approval by the German federal competition authority.
The contract for the sale of the Düsseldorf-based business unit formerly known as Vossloh Kiepe had been signed on December 21. The deal is worth €72·5m in cash, including a variable component of €25m subject to future performance. With the completion of the transaction, the net financial debt of the Vossloh Group was reduced by €45m.
‘With the acquisition of Vossloh Kiepe we are taking the logical next step in the successful development of our business’, said Klaus Deller, Chairman of the Executive Board of Knorr-Bremse. ‘The main benefits for our customers will be the technological advantages generated by greater sub-system connectivity. This acquisition will lead to the expansion of not only our rail vehicle systems portfolio but also our commercial vehicle systems offering. Given the increasing levels of electrification in the commercial vehicle sector, as a systems supplier for electric buses Vossloh Kiepe opens up new growth opportunities and potential applications in this segment.’
‘The transformation of Vossloh into a rail infrastructure group is at an advanced stage’, said Hans M Schabert, Chairman of the Vossloh Executive Board. ‘We are pleased that the sale of the second of the original three business units of the Transportation division has now been completed. Vossloh's profile as a focused, global and leading supplier of comprehensive solutions for rail infrastructure is becoming increasingly clear.’
Vossloh said the sale of the Vossloh Locomotives business was ‘currently being intensified’, with the unit becoming more attractive as a result of the its ‘advancing recovery’, an order to supply locomotives to France and the expected completion in mid-2017 of the relocation to its new factory in Kiel.
This article first appeared on www.railwaygazette.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2018 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.