FINLAND: Vossloh and the VR Group’s infrastructure construction subsidiary VR Track have formed two joint ventures which will operate three turnout production sites and a long welded rail plant.
Vossloh will have a 60% stake in each of the joint ventures, which it expects to have a total annual turnover of €20m to €30m, ‘with operationally positive income contributions’ from this year.
The turnout business including Vossloh’s existing assets in Finland will be integrated into Vossloh's Customized Modules division. The welding facility will become a part of the Lifecycle Solutions division.
‘By forming the joint ventures with VR Track, we are improving our access to the demanding Finnish market and laying an important foundation for accelerated growth in our core business divisions in Northern Europe’, said Vossloh CEO Hans Martin Schabert on May 26.