BY THE END of this month Pfleiderer AG expects to complete the sale of its Track Systems division to Vossloh AG. The companies have not disclosed financial details of the August 2 transaction.
The sale of its concrete sleeper and slab track business completes a strategic realignment at Pfleiderer, which is focusing on international expansion of its engineered wood activities.
The Track Systems unit has around 850 employees at seven European sites, and had sales of €138·2m in the 2004 financial year. Vossloh said the ’substantial expansion’ will give it ’access to another specialty market’ through the integration of Pfleiderer track products with its fasteners and switches.