On November 16 Talgo announced that an unnamed Hungarian business group had made a preliminary expression of interest in acquiring the company for €5 per share.
ABB and Titagarh Rail Systems have formed a strategic partnership to supply propulsion systems for metro trains in India. Titagarh will purchase ABB equipment including traction converters, auxiliary converters, traction motors and Traction Control & Management Software, and has manufacturing rights for traction motors along with the complete transfer of technology for a GoA4 driverless metro. ‘This strategic partnership with Titagarh provides the strong foundation to enter and expand our footprint in this key market’, said Edgar Keller, President of the Traction Business at ABB. Umesh Chowdhary, Vice-Chairman and Managing Director of Titagarh, said the agreement is ‘an important step towards developing in-house capabilities for our own TCMS, including driverless TCMS, complete with the setup of a software laboratory and the development of the source codes, which is often referred to as the “brain of the train” and is the most modern in the world.’
VTG’s Chief Operating Officer Europe & Chief Safety Officer Sven Wellbrock has decided to leave the company on December 31. Alberto Nobis, CEO of VTG GmbH, will take over on an interim basis. ‘Sven Wellbrock has been instrumental in driving VTG’s success and systematically expanding the company over the past 23 years’, said Nobis on November 17. ’He has also guided it safely through challenging times of the pandemic years. With keen strategic foresight and profound passion, he has devoted himself tirelessly to VTG and to enhancing the attraction of rail. It is in part due to his efforts that VTG today stands out as an innovative market leader, occupying pole position for the transition in freight transport.’
Milla Group has acquired Matawan Mobility’s Saphir and Sagitter SAEIV systems, which are integrated into Milla’s Life on Maps platform.
On November 20 The Greenbrier Companies announced the completion of a follow-on offering of wagon asset-backed securities securing long-term financing for its leasing business. GBX Leasing 2022-1 has issued an aggregate principal amount of $178·5m of its Series 2023-1 Class A and Class B Notes with a blended interest rate of 6·5%. ‘We secured long-term, fixed-rate financing at attractive rates with a call feature that provides us forward flexibility to respond to a lower interest rate environment’, said Greenbrier CEO and President Lorie Tekorius. ‘This financing is structured to keep our balance sheet strong while we grow our lease fleet, a lynchpin to achieve our goal of increasing recurring revenue.’
At the 6th China International Import Expo on November 7, eight CRRC subsidiaries signed 20 technical equipment purchase agreements with 17 companies from countries including Germany, Switzerland, Sweden and Japan. CRRC’s Vice-President Ning Wenze said the company had a philosophy of ‘openness, innovation, co-operation and sharing’ with the supply chain and customers.
At celebrations on November 23 marking the 150th anniversary of Siemens Mobility’s signalling and rail automation site in Braunschweig, the company announced that it had signed a letter of intent to consider job applications from up to 100 employees at Continental’s Gifhorn site which is to close by the end of 2027. Andre Rodenbeck, CEO of Siemens Mobility Rail Infrastructure, said it was ’a win-win situation for both companies, but above all for people in this region’.
Alstom’s Services business unit in Spain has been certified as a ‘brain-protected’ company by the Stopping Stroke Foundation, with 214 employees at its sites in Madrid and Barcelona trained to respond effectively in the event of someone suffering a stroke in its facilities. Expansion of the certification scheme to other business units and sites in Spain is planned.