Vossloh AG and Pfleiderer AG negotiating exclusively about Pfleiderer Track Systems
The Executive Boards of Neumarkt/Opf.-based Pfleiderer AG (ISIN DE0006764749) and Werdohl-based Vossloh AG (ISIN DE0007667107) have agreed to conduct exclusive negotiations for the sale/purchase of Pfleiderer’s Track Systems business center. The two parties have already reached agreement on essential contractual and financial terms and are confident of shortly bringing negotiations to a successful close.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.
For the Vossloh Group, the acquisition of this unit and the related access to another specialty market would spell substantial expansion and create 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.
Werdohl, July 26, 2005
For more information contact
Christiane Konrad, Vossloh AG, phone: (+49-2392) 52-249