Škoda Transportation Group signed the agreement to buy the remaining 25% of Transtech which was owned by Sinituote Oy company. Following this agreement, Škoda Transportation Group is the 100% owner of the only Scandinavian manufacturer of rolling stock in Finland, Transtech. The majority stake in Transtech was purchased by Škoda in August 2015.
“The long-term intention of the Škoda Group is to consolidate its position in the markets of Western Europe. This is also the intention of the new owner, the international investment group PPF, under whose leadership we have succeeded in finalizing the acquisition of the Finnish company Transtech,” Škoda Transportation Chairman, Petr Brzezina said.
The deal was closed on the occasion of Prime Minister Andrej Babiš visit in Finland, accompanied by a business delegation, including representatives of the Škoda Transportation Group.
Transtech was founded in 1985 and has a portfolio of products both low-floor trams and electric units, but also wagons. Currently, is supplying trams to the Finnish metropolis of Helsinki, the city of Tampere, or rail cars for Finnish Railways. Transtech annual sales reached CZK 3 billion (EUR 116.8 million).
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