Vossloh again expanding its track switch business
Vossloh AG is bolstering its Switch Systems business unit by acquiring Kloos Oving B.V., Netherlands. Headquartered in Alblasserdam near Rotterdam this company manufactures and markets track switches, their components and other rail infrastructure products. Provisional sales for 2007 total around €15 million. In its domestic market, Kloos Oving ranks #2. The transaction is due to take retroactive effect as of January 1, 2008, but is still subject to approval by the Supervisory Board and antitrust authorities. It has been agreed not to disclose the purchase price."Following the acquisition of the Danish switch manufacturer Sportek in January we are now able in the new year 2008 to re-strengthen our core Rail Infrastructure operations with a second financially sound company," comments Werner Andree, CEO at Vossloh AG.
Werdohl, February 13, 2008
Contact:
Uwe Jülichs
Vossloh AG
Phone: +49 (0) 2392 52-608
Mobile: +49 (0) 172 2909852
E-Mail: uwe.juelichs@ag.vossloh.com