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Transmashholding and LocoTech-Service stakes pooled

07 Aug 2018

RUSSIA: The shareholders of rolling stock manufacturer Transmashholding and maintenance services company LocoTech-Service pooled their ownership interests on August 2.

Transmashholding and LokoTech-Service will remain legally independent companies, but a gradual integration of the two operations is planned.

Alstom previously owned 33% in Transmashholding and now has a 20% stake in the new structure. Russian businessmen Iskandar Mahmudov, Andrei Bokarev, Dmitry Komissarov and Kirill Lipa jointly own 79·4% of the new structure, with the remaining 0·6% separately held by Komissarov and Lipa. Following the changes, Lipa is expected to continue as CEO of Transmashholding.

Transmashholding said the merger reflected the global trend towards integration of supply and maintenance, and would enable the companies to off a full range of life-cycle services to Russian Railways and export customers

The combined revenue of the two companies totalled 260bn roubles in 2017, and is forecast at more than 320bn roubles for 2018.