On November 4, 2015, the Executive Board of Vossloh AG signed a contract for the sale of its Rail Vehicles business unit, reported as discontinued operations, to Stadler Rail AG, Bussnang, Switzerland. For the purchase of the activities, Stadler will afford a cash payment of EUR 48 million and will, in addition, take over debt liabilities of Vossloh AG against the business unit Rail Vehicles of USD 124 million.
The transaction is still subject to merger control clearances, in particular. The completion is targeted for the first quarter 2016. The transfer of Rail Vehicles to Stadler Rail takes place with economic effect from 1 July 2015. The Supervisory board of Vossloh AG already approved the transaction.
Rail Vehicles, with headquarters in Valencia, has been operated as one of the three business units in Vossloh’s Transportation division that had been put up for sale. Business operations include the development and production of innovative diesel-electric locomotives and light rail vehicles.
In financial year 2014, sales of EUR 223.2 million were achieved and in the first nine months of 2015 sales amounted to EUR 182.4 million. Plans call for the management and all of Rail Vehicles’ proven functions to remain in Valencia. It is also intended to strengthen the location as a center of competence for locomotive engineering.
„Through this step we are able to integrate a company that perfectly complements our product portfolio and at the same times enables us to access new markets. In the segment of diesel-electric locomotives Rail Vehicles excels in competitive power and innova-tion force. Moreover, we can count on a highly experience and motivated manage-ment and engineering team,” Thomas Ahlburg, Deputy Chairman of the Ex-ecutive Board at Stadler Rail Group, said.
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