GERMANY: Slovak wagon builder Tatravagónka has completed the acquisition of bogie manufacturer ELH Eisenbahnlaufwerke Halle.
Tatravagónka has bought the 70% stake in ELH which was held by Andreas Goer, the majority shareholder in wagon leasing firm AAE Holding, and the 30% which was held by another business partner. The participants have agreed not to disclose the value of the transaction, which is back-dated to January 1.
Spun-out of a Deutsche Bahn repair works in 1998, ELH now has a 24 000 m2 plant in Landsberg with the capacity to produce 3000 bogies/year.
Tatravagónka is taking over 'a strong and productive company, which offers diverse possibilities', said Goer. 'As one of the greatest manufacturers of railway freight wagons in Europe, Tatravagónka is the right owner for ELH.'