Indian conglomerate PCM Group of Industries has completed the acquisition of track specialists RAIL.ONE.
RAIL.ONE, which installs concrete sleepers and ballastless track systems around the world, described the move as an “exceptionally positive signal”.
Jochen Riepl, chief executive of RAIL.ONE, said: “We are happy that PCM Group, which has extensive experience in infrastructure, has acquired RAIL.ONE Group.
“Together we combine RAIL.ONE’s strengths of quality and reliability along with the broad long-term vision PCM lives throughout in the entire railway infrastructure segment. These competencies will result in new business possibilities and international growth for the group.”
“This is a giant step for PCM Group and this acquisition has made us world’s leading conglomerate in Railway Infrastructure,” added Kamal Kumar Mittal, chairman of PCM.
