TMH Africa completes purchase of DCD Rolling Stock factory
SOUTH AFRICA: Transmashholding completed its previously-announced acquisition of the DCD Rolling Stock plant in Boksburg from DCD Group on October 29.
‘We are very proud of closing this deal’, said Martin Vaujour, CEO of the Russian group’s overseas business development unit TMH International. ‘This is a major milestone in our investment strategy to create local champions in our markets. Boksburg becomes the TMH Group narrow gauge industrial site, and we are looking forward to serving customers worldwide from our African setup for both services and sub-assembly manufacturing.’
The plant has been acquired by the TMH Africa joint venture of TMH (70%) and its black economic empowerment partner Mjisa Investments (30%). TMH said it wanted to contribute towards an inclusive economy through job creation and skills development in line with key priorities under South Africa’s national development plan.
TMH hopes that the plant will become ‘Africa’s gateway production site’, undertaking the assembly, maintenance and refurbishment of diesel and electric locomotives as well as rolling stock for customers across the continent.