Railway supply industry news round-up
The executive and supervisory boards of VTG AG published a joint reasoned opinion on September 5 recommending that shareholders do not accept the €53 per share voluntary public takeover offer made by the Warwick Holding subsidiary of funds advised by Morgan Stanley Infrastructure. 'The consideration offered does not reflect the fundamental value and the future potential of VTG', said executive board Chairman Heiko Fischer. 'Nor does the offer contain an appropriate control premium – it is substantially lower than for comparable transactions.'
In an effort to attract new market entrants and smaller players, the UK’s Railway Industry Association has halved its minimum membership fees to £875/year for companies with UK rail turnover below £1m which are not owned by a company with a turnover of more than £50m. ‘This new offer should hopefully make it markedly easier for those with lower rail turnovers to join RIA, grow their businesses and benefit from our lobbying, policy, technical, and exports work, tender opportunities and best practice sharing and flagship events’, said Chief Executive Darren Caplan.
Ondas Networks has appointed Wayne Tatro to advise the transportation business unit it has created to provide mission critical internet of things technology for the rail and public transport markets. ‘With initiatives such as Positive Train Control being implemented to assure safe and secure transportation operations, his experience will be extremely valuable’, said CEO Stewart Kantor.
Lütze Transportation has obtained ISO/TS 22163 quality management certification.