Vossloh buys Global Rail Systems
USA: Vossloh acquired a majority stake in Texas-based Global Rail Systems with effect from October 16. Financial terms were not disclosed, but the existing management will remain in place.
The automation, level crossing and control equipment company is intended to complement Vossloh's other US businesses, Vossloh Track Material, Cleveland Track Material and Vossloh Fastening Systems America Corp.
'This is a perfect marriage of track and train control technologies', said Coy Beaman, Global Rail Systems founder and President. 'We have the right resources to establish Vossloh in the US signalling market and place Global Rail Systems' products in Europe, greatly strengthening our position in the rail signalling market.'
CEO Tom Schlosser said the deal would mean greater support for the company, including 'more aggressive' research and development.
- Poland's regulatory authority has blocked Vossloh's planned acquisition of turnout supplier KolTram (RG 6.09 p28).