Vossloh has today confirmed the sale of its Rail Vehicles business to Swiss manufacturer Stadler.
The takeover will include a cash payment of €48 million and will see Stadler take over €124 million of debt associated with the division.
Vossloh announced last week that it was close to finding a buyer for its Rail Vehicle business, which will retain its headquarters in Valencia, and now hopes to complete the transaction in the first quarter of next year.
Hans Martin Schabert, chairman of the executive board at Vossloh said: “We are very happy that, with Stadler Rail, we have found a buyer that is experienced in the industry, has a tremendous reputation and is reliable.
“We are convinced that the expertise, experience and business model of Rail Vehicles and Stadler will ideally complement one another. Rail Vehicles can look forward to the prospect of further development within the Stadler Group.”
Rail Vehicles is one of three business units within Vossloh’s Transportation division which the company is looking to sell – the others being Vossloh Locomotives in Kiel and Vossloh Electrical Systems in Düsseldorf. Vossloh hopes to find a buyer for both businesses by the end of 2017.
Thomas Ahlburg, deputy chairman of the executive board at Stadler Rail, added: “I am very pleased that 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 innovation force. Moreover, we can count on a highly experience and motivated management and engineering team.”
