A combined 59% shares of Traktionssysteme Austria (TSA) will be procured by the Voith and PCS Holding, a Swiss holding company, under an agreement signed on April 29, 2020. Both parties agreed not to disclose the purchase price.
The closing of the transaction is anticipated to occur during the second half of 2020 and is subject to regulatory approvals and meeting other usual closing conditions.
“Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,” Uwe Knotzer, CEO Group Division Voith Turbo said.
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Magister Robert Tencl. The previous co-owner, Günter Eichhübl, has sold his shares and will also remain as a Managing Director of the company until June 30, 2021.
This strategically oriented ownership structure will give TSA easier access to new markets, technologies and financing opportunities as an independent drive specialist.
After the procurement of the shares of Traktionssysteme Austria (TSA), a growth strategy is expected to be launched which will develop new and energy-efficient products.
“This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries,” Oliver Streuli, CEO of PCS Holding, said.
TSA has 60 years of experience manufacturing traction drives at the former Brown Boveri plant in Wiener Neudorf. They are reliable and with high-performance in operation in 55 countries on all continents. With its products, the company offers answers to the future ecological and technological challenges of rail and road mobility.
TSA employs 380 people in Austria and has a further 390 employees at other locations in Bosnia-Herzegovina, the USA, China and in a joint venture in India.
Share on:
