Siemens Mobility has acquired RailTerm, a Canadian based transport company that is providing rail services to rail companies and transit agencies. The transaction is expected to be closed on July 1, 2021.
This acquisition signals Siemens Mobility’s intent to grow its Canadian business. RailTerm’s familiarity across Canada’s entire rail spectrum will allow Siemens Mobility to expand its existing portfolio with on-the-ground track and signaling, electrification and communication systems.
“The acquisition of RailTerm strengthens our overall Rail Infrastructure business in North America and further establishes our footprint and customer base in Canada, a market we believe has immense potential. Through our world-class proven expertise in technology, digitalisation, and innovation, we believe we can offer real value for customers in Canada by providing them with cost-effective, sustainable and reliable transport solutions that will assist Canadian cities in modernizing and expanding their transportation infrastructure,” Michael Peter, the CEO of Siemens Mobility said.
The company employs more than 150 people and serves over 70 clients in Canada and the United States. They will greatly assist in enhancing Siemens Mobility’s ability to deploy its in-depth knowledge and world class technologies across Canada’s vast and expanding rail networks, as well as reaching key customers.
“The RailTerm team is proud to associate with a global industry leader the caliber of Siemens Mobility. This transaction will produce a stronger partner for our clients and an even more exciting place for our people to grow,” Rob Wheeler, Founder and President of RailTerm said.
RailTerm was established in the mid-1990s in Canada and within its first rail venture, the company acquired more than 800 km of tracks in Eastern Canada in partnership with a leading US short line operator and started what has become the largest regional freight railway network in the country. Within the second phase of development, the company established RailTerm to be a services provider to railway operators, and counted Canadian Pacific, VIA Rail and Genesee & Wyoming, the key anchor clients. For VIA Rail, Siemens Mobility will start this year the delivery of the new trains under a contract of CAD 989 million (USD 818.17 million, in current prices) signed in 2018. The trainsets will enter passenger transport services in 2022 on the Québec City – Windsor rail corridor.
Share on:
