Vossloh’s Supervisory Board gives go-ahead for the takeover of Pfleiderer Track Systems
Significant growth momentum through a further specialty marketAt today’s meeting, the Supervisory Board of Vossloh AG has given the go-ahead to acquire Pfleiderer Track Systems. Pfleiderer AG’s own Supervisory Board had already given its approval on August 19, 2005. The transaction is still, however, subject to review by the respective cartel authorities.
For the Vossloh Group, the acquisition of this unit and the related access to another specialty market spells significant growth. “The integration of Pfleiderer products with Vossloh’s own lineup of rail fasteners and switches into one system results in substantial sales synergies to allow our group to grow into a systems supplier with an even sharper competitive profile” emphasized Vossloh AG’s CEO Burkhard Schuchmann.
Pfleiderer Track Systems is a worldwide leading supplier of innovative track systems for rail-bound urban and long-distance transport. 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. A workforce of around 850 at seven European production plants generated sales of about €138 million in fiscal 2004.
Werdohl, August 26, 2005
For more information contact
Christiane Konrad, Vossloh AG, phone: (+49-2392) 52-249