Vossloh wins two big contracts in Libya
Vossloh has won two major contracts worth together around €115 million in connection with the construction of Libya’s new rail network. On behalf of general contractor China Civil Engineering Construction Corporation, Vossloh will equip around 1,300 km of the planned network with its fastening systems and switches. Deliveries will extend from 2010 to 2012.“These two major contracts again reflect the vast acceptance enjoyed by our products worldwide. We are thus further expanding our already strong position in North Africa,” says Werner Andree, Vossloh AG’s CEO. The Fastening Systems business unit’s contract is worth some €37 million, Vossloh Switch Systems’ around €78 million.
Libya, which had closed down rail traffic in 1964, is currently investing in the construction of a new rail network. These contracts mean that Vossloh is now involved in building both the main lines. One, along the country’s Mediterranean coastline, will in the long term close the gap in passenger haulage between Tunisia and Egypt; the second extending inland, will chiefly be used in the haulage of natural resources.
Werdohl, August 2, 2010
Media contact:
Uwe Jülichs
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Vossloh AG
Phone: (+49-2392) 52-608
Mobile: (+49 172) 2909852
Email: uwe.juelichs@ag.vossloh.com
Investor contact:
Lucia Mathée
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Vossloh AG
Phone: (+49-2392) 52-359
Email: investor.relations@ag.vossloh.com
Today’s Vossloh is a global player in the rail technology markets. The Group focuses on its core businesses of rail infrastructure, rail vehicles, and electric buses. Reflecting this focus, Vossloh’s two divisions of Rail Infrastructure and Transportation (previously “Motive Power&Components”) operate under the roof of MDAX-listed Vossloh AG. In fiscal 2009, a good 4,700 employees generated sales of over €1.17 billion and an EBIT of €137.9 million.