Knorr-Bremse to buy Selectron Systems
SWITZERLAND: Knorr-Bremse has signed an agreement to acquire rail vehicle automation, networking and control technology supplier Selectron Systems.
Selectron Systems is based in Lyss and has more than 100 employees. Knorr-Bremse said customers of both companies would benefit in the original equipment, operations and aftermarket sectors, with Selectron Systems able to utilise Knorr-Bremse’s worldwide sales and service network.
The purchase agreement was signed on December 19, with completion of the transaction subject to regulatory approval. Financial details were not disclosed.