Vossloh is negotiating with Alstom the purchase of the diesel locomotive plant in Valencia/Spain
Vossloh AG is currently negotiating with the Alstom Group the purchase of the diesel locomotive plant in Valencia, Spain. An agreement regarding the cornerstones of the transaction was already concluded. The sale and purchase agreement may be finalized in the coming weeks, contingent upon the satisfactory result of the on going due diligence and the approval of the relevant boards. The consummation of the transaction would be subject to further preconditions, including the consent of the relevant antitrust authorities.Vossloh develops and produces through its subsidiary Vossloh Locomotives GmbH in Kiel low- and medium-power two- and four-axles diesel hydraulic locomotives. Over the last years, Vossloh has established itself as one of the most prominent supplier in this segment. Sales in the fiscal year 2003 were approximately 235 m€.
Alstom Valencia develops and produces diesel electric locomotives for passenger and freight transport as well as shunting. Key products include high power six axle diesel electric locomotives for passenger and freight applications. Furthermore, Alstom Valencia produces bogies for a variety of rail vehicles and produces vehicles for light rail and metro projects in the region of Valencia. Sales in the fiscal year ended 31 March 2004 amounted to approximately 90 m€.
Werdohl, September 17, 2004
For more information contact:
Christiane Konrad, Vossloh AG,
phone (+49-2392) 52-263