GERMANY: Ballastless track and concrete sleeper supplier Rail.One completed a 'comprehensive financial reorganisation' at the beginning of July, with some creditors receiving shares in return for waiving claims.

The company is now owned by a group of creditors led by the DAM Capital Management subsidiary of US firm Anschutz Corp.

'This adjustment to the financing borne by all creditors, and the recently completed organisational restructuring, make it possible for us to clearly and vigorously shape the future once again', said Chief Financial Officer Jochen Riepl. 'At the same time, the new ownership structure considerably strengthens the company.'