GERMANY: Vossloh AG finalised the sale of its Locomotives business unit to CRRC Zhuzhou Locomotive on May 29, with the tranaction to taken effect from May 31.
This follows the completion of regulatory approvals in Germany and abroad during April.
Following its strategic decision to focus on rail infrastructure, Vossloh sold its Valencia-based Rail Vehicles business unit to Stadler in 2015 and the Düsseldorf-based Electrical Systems business previoulsy known as Vossloh Kiepe was sold to Knorr-Bremse in 2017.
‘The sale of our Kiel-based locomotive business is an extremely important milestone in Vossloh’s strategic development’, said Vossloh CEO Oliver Schuster. ‘It marks the end of a fundamental realignment of our company over several years. From now on, Vossloh’s focus will be entirely on rail infrastructure products and services.’
Schuster said he was ‘delighted that in CRRC ZELC we have found a strong, reliable and above all long-term buyer for our former Locomotives unit. We are convinced that the future prospects of Locomotives will improve significantly with CRRC ZELC as new owner.’