Vossloh AG and Pfleiderer AG sign agreement on Pfleiderer Track Systems
In the course of their exclusive negotiations, Werdohl-based Vossloh AG and Neumarkt/Opf.-based Pfleiderer AG have signed on Tuesday, August 2, 2005, an agreement on the sale and transfer to Vossloh of Pfleiderer Track Systems. The transaction still requires the consent of both companies’ supervisory boards and is, moreover, subject to the approval of the antitrust authorities. The parties have agreed not to disclose the purchase price.For the Vossloh Group, the acquisition of this unit and the related access to another specialty market spell substantial expansion besides creating considerable sales synergies by integrating the Pfleiderer products with Vossloh’s own rail infrastructure lineup (rail fasteners and switches) into one system, thus growing Vossloh into a systems supplier with an even sharper competitive profile.
Pfleiderer Track Systems is a worldwide leading supplier of innovative track systems for rail-bound urban and long-distance transport. A workforce of around 850 at seven production locations in Europe manufacture track and switch sleepers in concrete. It is in particular in the development of ballastless tracks for high-speed lines that Pfleiderer Track Systems is regarded as technology leader in the market. Sales in fiscal 2004 amounted to €138.2 million.
Werdohl, August 2, 2005
For more information contact
Christiane Konrad, Vossloh AG, phone: (+49-2392) 52-249