The Supervisory Board of Vossloh AG completely replaces the Executive Board: Dr. h. c. Hans M. Schabert is appointed new Chairman of the Executive Board as of April 1. Oliver Schuster joins the Board on March 1 and assumes responsibility as Chief Financial Officer on April 1. As a third member of the Executive Board, Volker Schenk completes the new management team as of May 1. A thorough survey of the situation in the Group begins instantaneously. The former members of the Executive Board Werner Andree and Dr.-Ing. Norbert Schiedeck step down at the end of March.
Vossloh sells all treasury shares, corresponding to 9.91 percent of the capital stock, in March as well. Gross proceeds amount to approximately €91 million.
In April, the Executive Board announces that it will pursue an operational management approach. The model of a purely financial and management holding for Vossloh AG with decentrally managed operating units is discarded.
In May, the Annual General Meeting elects Dr.-Ing. Wolfgang Schlosser and Ursus Zinsli, two distinguished industry experts, to the Supervisory Board of Vossloh AG.
In the second quarter the Executive Board initiates an extensive program to operationally and strategically restructure and realign several business fields of the Group. Necessary restructuring measures and updated project calculations relate primarily to the Transportation division. An updated market assessment also makes a comprehensive revaluation of individual assets in the Switch Systems business unit necessary. Approximately one third of the Management Boards and department heads are cut. A Group-wide project for the optimized management and sustainable improvement of net working capital begins with the goal of as low a capital commitment as possible in the entire company.
As of end of June, the US private placement which had been in place since 2004 was replaced by a lower-interest financing.
In July Vossloh announces the construction of a locomotive plant in Kiel, Germany.
In order to tap into future growth markets, in August, a production joint venture for rail fasteners in Russia is founded.
Starting in October, the ultra-modern production facility from Vossloh Fastening Systems for tension clamps as well as plastic components in Waco, Texas is being ramped up.
Beginning of December, the Executive Board presents the new Group strategy. From 2015, Group activities will be divided into three new core divisions: Core Components, Customized Modules and Lifecycle Solutions. The Transportation division will initially continue to operate as a fourth pillar but is no longer part of the core business. It is intended to sell the business in whole or in part by 2017 at the latest, or to transfer it to a more fitting structure.
In January, Vossloh Group is strengthening its business in the growth market of South America through the complete takeover of the Brazilian switch manufacturer Barros Monteiro and the formation of a consortium for the construction of a switch facility in Argentina.
In May, the Annual General Meeting of Vossloh AG elected four stockholder representatives to the Supervisory Board. In addition to the new members Dr. Wolfgang Scholl, Dr. Alexander Selent and Heinz Herman Thiele, Dr. Kay Mayland, who as a court-appointed member has already served on the Supervisory Board since January 2013, and two representatives of the employees remain in the control body. In the subsequent constituent meeting, Heinz Hermann Thiele was elected to the Chairman of the Supervisory Board.
In the third quarter of 2013, Vossloh AG commenced the fitting out of a production plant for fastening systems in the USA. The local presence will enable the Group to have better access to the second-largest rail infrastructure market in the world. Production is planned to start in the middle of 2014.
In October, Vossloh obtained a major order for locomotives with a value of approximately €250 million from South Africa. The ordered EURODual vehicles can be operated both on electrified and non-electrified lines. Shipments are expected to begin in the second quarter of 2014.
Coinciding with the deliveries of the first vehicles from the original order in 2011, the Hannoverschen Verkehrsbetriebe - Hannover's public transport operator - awarded Vossloh a follow-up-contract for 50 light rail vehicles in mid-November.
Towards the end of November, the Vossloh family placed approximately two-thirds of its shareholdings.
Also in the last days of November, Vossloh received a €30 million order for the delivery of fastening systems for the high-speed rail link Mekka – Medina in Saudi-Arabia.
The end of May saw the closing of a deal to acquire TPL (Midlands) Limited, Birmingham, UK, a company that holds all the shares in Transys Projects Ltd., Birmingham, UK. Meanwhile the acquirees are operating under the names Vossloh Kiepe Limited and Vossloh Kiepe UK Limited, respectively. Their domiciles are unchanged. Vossloh Kiepe UK Limited revamps, refurbishes and overhauls rail vehicles. Both these companies have been assigned to the Electrical Systems business unit.
In August, Vossloh was awarded a contract for eight light rail vehicles plus the option for another two by Verkehrsverbund Mittelsachsen. The order for the first eight is worth €42 million.
In December, São Paulo Metropolitan Urban Transport Company (STM/EMTU) placed an order with a consortium comprising Vossloh Rail Vehicles and Brazil’s T'TRANS for 22 new trams to be delivered in 2014 and 2015.
Likewise in December, Vossloh acquired the remaining 50-percent stake in VTS Track Technology Limited, Scunthorpe, UK, in which it already held 50 percent. This company, which makes turnouts and their components, is assigned to the Switch Systems business unit.
April saw Vossloh win a megacontract from Üstra Hannoversche Verkehrsbetriebe AG, Hannover, for, initially, 50 light rail vehicles. For Vossloh Electrical Systems as consortium head, the order is worth around €100 million.
In July, Vossloh AG’s Executive Board resolved, after first obtaining the Supervisory Board’s approval, to redeem and withdraw the 1,470,630 treasury shares then held from the stock buyback program 2008/2009 (about 9.94% of the capital stock) without decreasing the capital stock. On the same day, the Executive Board also decided to repurchase via the stock market up to 1,332,529 treasury shares, equivalent to 10 percent of the capital stock after the formal treasury stock redemption and withdrawal. The new stock buyback program was completed in early December 2011.
October saw another megacontract, this time from Karlsruhe, worth some €75 million. Verkehrsbetriebe Karlsruhe (VBK) and Albtal-Verkehrs-Gesellschaft (AVG) awarded Vossloh Rail Vehicles a contract for 25 low-floor light rail vehicles.
In November, Wuppertaler Stadtwerke placed a megaorder for 31 railcars for the Wuppertal suspension railway. Worth a total €122 million, the new vehicles, which are replacing units dating back to the seventies of the previous century, will again be supplied by Vossloh Electrical Systems and Vossloh Rail Vehicles.
In December, the BASF Group ordered 22 diesel locomotives, including sixteen G 6, four DE 12, and two DE 18. They will perform mainline and shunting services at the BASF locations in Ludwigshafen, Schwarzheide, and Antwerp. BASF and Vossloh also agreed on an extensive service package including a joint effort to fine-tune the maintenance and parts logistics of the rail vehicle fleet. The total value of the contract is some €40 million.
February 5, 2010, sees the closing of the sale and transfer agreement covering the companies constituting the new Rail Services business unit which is included among the consolidated companies as from January 1, 2010. In March, Vossloh AG takes over the permanent-way segment of SaarGummi Deutschland GmbH and thus strengthens its Fastening Systems business unit.
In April Kiel-based Vossloh Locomotives is awarded a contract by industrial rail operator Verkehrsbetriebe Peine-Salzgitter (VPS) for eighteen G 6 diesel locomotives, the most modern among the Vossloh shunters and the first of a new modular family.
In August, Vossloh wins two megacontracts worth a total of around €115 million related to the building of the Libyan rail network. On behalf of general contractor China Civil Engineering Construction Corporation Vossloh is to fit fasteners and switches to some 1,300 km of the rail lines planned for Libya. The political upheavals lead to a suspension of shipments in February 2011.
Also in August, Vossloh concludes a framework agreement with the Swedish agency Trafikverket for the supply over the next 15 years of a new kind of actuation system for switches and crossings worth a total of around €100 million. The Fastening Systems business unit is awarded by the Chinese Railways Ministry another megaorder for high-speed rail fastening systems to be fitted to most of the Lanzhou–Urumqi line in the northwest of China.
In October 2010, Vossloh accesses the Russian rail infrastructure market by winning an order to supply rail fasteners. A joint venture is set up in China and work starts on the construction of a production plant for switches and turnouts. The facility will have a workforce of up to 500 starting from 2012.
Following the completion on March 20, 2009, of the stock repurchase program launched in 2008, Vossloh AG now holds 1,476,230 treasury shares, equivalent to 9.98 percent of the total 14,795,870 no-par shares.
At its meeting on April 21, 2009, the Supervisory Board appoints Executive Board member Dr.-Ing. Norbert Schiedeck for another five years up to March 2015. Dr.-Ing. Norbert Schiedeck has been on the Executive Board of Vossloh AG since 2007 and is in charge of Engineering, Sales & Distribution, and Human Resources.
In June 2009, Vossloh Fastening Systems (China) Co. Ltd. is awarded a large contract worth around €170 million from the Chinese Ministry of Railways for high-speed rail fastening systems. Vossloh fasteners will be fitted to most of the Beijing–Shanghai line.
Dr. Hans Vossloh, Honorary Chairman of the Supervisory Board of Vossloh AG, dies in September, age ninety. He was the last surviving grandson of founder Eduard Vossloh. After bearing operational responsibility for over 40 years, Dr. Hans Vossloh played a lead role in the transformation from a successful family enterprise to a stock corporation. In 1986 he moved from the management of Vossloh-Werke, Werdohl, to Supervisory Board Chairman and laid the groundwork for the Company’s IPO in 1990. Since 1994, Dr. Hans Vossloh has been Honorary Supervisory Board Chairman. Spurred on by his Christian faith, the deceased devoted himself far beyond his activities within the Company, to the interests of the employees and the town of Werdohl.
Acquisition gives birth to a new Rail Services business unit: On December 14, 2009, Vossloh executes a sale and transfer agreement covering the rail services companies of the Stahlberg-Roensch Group, Seevetal near Hamburg, as well as LOG Logistikgesellschaft Gleisbau mbH and ISB Instandhaltungssysteme Bahn GmbH of the Hannover-based Contrack Group. The acquisition covers seven German locations specializing in complex solutions for the welding and preventive maintenance of rails as well as the related logistics.
In 2009, Vossloh had already executed three smallish acquisitions: In April it took over APS Electronic AG, Switzerland, in order to expand Vossloh Electrical Systems’ components and servicing business. In July 2009, the switch and permanent-way components business of Nuova Sima Sud, Italy, was added to the Switch Systems business unit. In October 2009, a majority stake was acquired in the Texas-based signaling equipment manufacturer Global Rail Systems, Inc., a move that will strengthen the USA operations of Vossloh Switch Systems. Each of these three enterprises has annual sales in the single-digit million euro range.
Following its takeover in January of the Danish switch manufacturer Sportek, Vossloh acquires a month later the Dutch switch builder Kloos Oving B.V. headquartered in Alblasserdam near Rotterdam.
The Supervisory Board members elected by the AGM to represent the stockholders—Dr. Jürgen Blume, Dr.-Ing. Wilfried Kaiser, Dr. Christoph Kirsch and Peter Langenbach—and the reappointed employee representatives—Wolfgang Klein and Michael Ulrich—reelect in May Dr.-Ing. Wilfried Kaiser as Supervisory Board Chairman.
In September and with retroactive effect as of January 1, 2008, Vossloh finalizes the sale of its business unit Vossloh Infrastructure Services (VIS) to Eurovia S.A., a VINCI Group company. It was with its acquisition of the Cogifer Group back in 2002 that Vossloh had simultaneously taken over this trackage construction business.
In October, Vossloh AG’s Supervisory Board reappoints Werner Andree as CEO for another five years until August 2014. He has been a member of Vossloh AG’s Executive Board since 2001, since August 2007 its Chairman.
In October 2008, Vossloh AG starts its program for repurchasing on the stock market up to 1,479,582 of its shares (10 percent of the capital stock).
As part of the strategic refocus of the Vossloh Group the Vossloh Information Technologies (VIT) division is sold in February 2007, to Funkwerk AG.
In March, Vossloh AG is buying Pohl Corp., a manufacturer of rail switches based in Reading, Pennsylvania, USA, and thus entering the North American market for rail infrastructure. Only a few weeks after buying Pohl Corp., Vossloh AG is acquiring a second US rail switch manufacturer, Cleveland Track Material, Inc., headquartered in Cleveland, Ohio.
At the start of August, Vossloh completes the 100-percent takeover of France's Européenne de Travaux Ferroviaires SA (ETF).
On August 9, 2007, Dr. Gerhard Eschenröder quits Vossloh AG’s Executive Board. Werner Andree, since September 1, 2001, CFO of Vossloh AG, becomes Executive Board Spokesman.
In the fall, Vossloh opens in Kunshan, China, at the gates to Shanghai a new rail fastener production plant.
In acquiring TKL Rail, #2 in the Australian switch market Vossloh completes its third takeover in 2007.
Effective March 1, Vossloh AG’s Supervisory Board appoints Dr. Gerhard Eschenröder to the Executive Board, concurrently nominating him as CEO.
The Services business unit (Vehicle M&R) is sold and transferred with economic effect as of January 1.
With Patil as joint venturer, Vossloh Cogifer acquires Dakshin Transtek Ltd., a manufacturer of switch setting devices based in Bangalore, India.
In July, Vossloh Cogifer (60 percent) and its Spanish subsidiary Amurrio take over the Indian foundry Beekay Ltd.
As of September 23, Dr. Kajo Neukirchen steps down as both Supervisory Board member and chairman. The Supervisory Board then elects Dr.-Ing. Wilfried Kaiser its new chairman.
With effect as of December 31, 2005, Burkhard Schuchmann resigns from his offices as Vossloh AG’s Executive Board member and chairman.
Vossloh establishes the Vossloh Rail Technologies Ltd. subsidiary in Turkey.
Vossloh Cogifer SA bolsters its activities in Scandinavia with the purchase of the Swedish switch manufacturing company Swedish Rail Systems AB.
Vossloh enters the Australian growth market by acquiring Delkor Pty Limited's rail fastening operations.
In acquiring 51 percent of switch manufacturer JS Industries Private Ltd., Hyderabad, Vossloh Cogifer gains an important footing in India.
Vossloh signs an agreement to purchase Alstom’s Valencia-based diesel locomotive plant in Spain, a move that broadens Vossloh’s product range with the addition of diesel-electric locomotives and consolidates the Group’s leadership in the European market for diesel locomotives. Closing: April 1, 2005.
The 10-percent stake in Locomotion Capital Ltd. is sold while, at the same time, the share in Locomotion Service GmbH is upped to 100 percent.
Vossloh unveils its new dynamically forward-looking brand label combining soundness with clear visibility. The green stands for the "go" signal worldwide, explicitly symbolizing dynamic strength, performance orientation and the readiness to move the transport market.
Vossloh Cogifer SA purchases an 89-percent stake in the formerly state-owned Serbian switch manufacturer MIN Skretnice, with the remaining share held by the workforce. The acquisition strengthens Vossloh's market-leading position in Southeastern Europe.
Effective January 10, 2002, Vossloh System-Technik GmbH acquires the activities of the Passenger Information & Entertainment Systems business unit of Bombardier Transportation (Signal) Germany GmbH, headquartered in Hennigsdorf.
On May 16, Vossloh AG, Werdohl, sells its Lighting division to Matsushita Electric Works, Ltd., Osaka, Japan, thus launching its realignment into a transportation technology group.
By signing an agreement for the purchase of 100 percent of the French Cogifer Group, Vossloh positions itself additionally as a rail infrastructure systems and services supplier, able to produce switch technology to meet all worldwide existing standards, as well as in the maintenance and servicing of rail networks.
In a related move, Vossloh sheds its approximately 45-percent stake in the Austrian VAE AG, which is taken over by Voest-Alpine Bahnsysteme GmbH.
On September 14, Vossloh AG, Werdohl, concludes a takeover agreement for the Düsseldorf-based Kiepe Elektrik Group. This acquisition enables Vossloh to purposefully expand its spectrum of products and services in transport technology.
On September 23, Vossloh enters into a purchase agreement to acquire Poland's state-owned Skamo based in Nowe Skalmierzyce. The company is the market leader in Poland for rail fastening systems.
Hegenscheidt MFD GmbH, Erkelenz, becomes part of a joint venture with Niles-Simmons Industrieanlagen GmbH, Chemnitz.
By taking over the Swedish NovoSignal AB (55 percent), which now goes by the name Vossloh System-Technik Malmö AB, VST acquires a small, but exclusive development firm, especially for process control systems, as well as for electronic interlocking systems for secondary lines.
The switch systems business unit acquires a majority stake in Transwerk Perway Pty. Ltd. in South Africa.
Vossloh enters into a venture with the British company Angel Trains Limited and founds the London-based Locomotion Capital Ltd. (10-percent stake) and Locomotion Service GmbH (90-percent stake) with headquarters in Kiel.
In December, the Lighting division plants on the Gartenstrasse and Am Wendelpfad in Lüdenscheid move into their new Buckesfeld production facilities. In the new building, all of the various departments are now united under one roof.
Vossloh acquires an 80-percent interest in the Wustlich Group, thus entering the LED market.
Its engineering systems' business is expanded through the Britain's Comreco Rail Ltd., York.
Vossloh-Schwabe enters into joint ventures in India and Tunisia.
Vossloh AG takes over Siemens Schienenfahrzeugtechnik in Kiel. Vossloh Schienenfahrzeugtechnik (VSFT) is now one of the leading suppliers of diesel-hydraulic locomotives.
Together with Voest-Alpine Stahl AG (VA Stahl), Vossloh acquires a good 90 percent of the shares of the Austrian company VAE, world market leader in rail switches.
Vossloh System-Technik GmbH takes over MAN Systemelektronik in Karlsfeld and thus broadens the product range to include passenger information systems.
On July 22, the board of the German Stock Exchange Corporation, Deutsche Börse AG, decides to list Vossloh AG in the MDAX index.
The Decoration division is sold on October 1 to the Italian company Arquati S.p.A.
From the insolvency assets of Deutsche System Technik GmbH, Vossloh acquires the transport and industry sectors and founds Vossloh System-Technik GmbH, Kiel.
The marketing company Vossloh Tehnica Feroviara S.R.L. for rail fasteners is established in Romania.
Vossloh AG purchases W. Hegenscheidt GmbH and Hoesch Maschinenfabrik Deutschland GmbH, two companies that produce special machinery for wheelset machining of railbound vehicles.
On June 28, Dr. Hans Vossloh turns the chairmanship of the Supervisory Board over to Dr. Karl Josef Neukirchen and becomes Honorary Chairman of the Supervisory Board. Burkhard Schuchmann becomes the CEO of Vossloh AG.
Vossloh-Schwabe acquires 70 percent of Elektrobau Oschatz GmbH.
In Thailand, the Vossloh-Schwabe Thailand Ltd., Bangkok, production site is established.
A new production facility for rail fasteners is commissioned in Delitzsch, Saxony.
Diethelm Bomnüter-Vossloh retires from the Board due to age.
On March 2, Vossloh AG is registered at the local court in Altena. The equity capital of DM 25 million is divided into 500,000 shares.
The board members of the AG are Diethelm Bomnüter-Vossloh and Burkhard Schuchmann. On June 13, 1990, the shares are quoted on the Düsseldorf Stock Exchange for the first time.
At the shareholders' meeting on December 1, it is decided that Vossloh-Werke GmbH is to become a stock corporation (AG). The Group is reorganized by spinning the operational business out of the stock corporation. The AG assumes the function of a financial and management holding company, as the parent company for the three divisions, Vossloh-Werke GmbH, Werdohl (railway infrastructure and spring washers), Vossloh-Schwabe GmbH, Urbach (ballasts, lampholders, lamp components), and Hansa Metallwarengesellschaft mbH Thiessen & Hager (decorative line and sun protection products).
Following extensive negotiations, Vossloh acquires Urbach-based Schwabe GmbH, along with its holdings in France and Spain. The ballasts produced by Schwabe provide an optimum addition to the lighting range. The first Vossloh subsidiary for the lighting industry is established in the United States: Vossloh Inc., in Pittsburgh.
In Werdohl, BV Oberflächentechnik, in which Vossloh has a 50-percent interest, is founded and its manufacturing facilities are developed.
The Dillenburg plant is closed.
On March 1, Burkhard Schuchmann joins the Management Board of Vossloh-Werke.
Two major fires in August and October on the plant premises in Werdohl severely damage the buildings and the galvanizing facilities.
Dr. Hans Vossloh retires as General Manager and becomes Chairman of the Supervisory Board.
A marketing company is established in Great Britain.
A marketing company for the lampholder sector is founded in Singapore.
The lampholder assembly operation in Selm is closed.
Wilhelm Bomnüter retires as General Manager of Vossloh-Werke GmbH. His son Diethelm Bomnüter-Vossloh becomes General Manager.
The German Federal Railway lays down the first trial section equipped with the new rail fastening system.
Prof. Hermann Meier develops the tension clamp for rail fasteners. Vossloh is granted the license for production, which begins in the same year.
A new plant for plastics processing is built on Am Wendelpfad in Lüdenscheid.
On August 24, the first foreign production site, Vossloh S.p.A., is opened in Sarsina.
At the beginning of the 1960s, there are 1,300 employees at the Vossloh works, with an additional 500 at associated companies.
Vossloh builds a new factory for lighting products in Selm.
Karl Vossloh dies on February 5.
Ernst Vossloh dies on April 28.
Dr. Hans Vossloh becomes General Manager of Vossloh GmbH.
A new office building is erected at headquarters in Werdohl according to designs by Wilhelm Pütz.
A new complex is built on the Philippstrasse in Lüdenscheid with 3,000 square meters of usable floor space. The staff grows to 500 employees..
Wilhelm Vossloh dies on January 7.
Already suggested in 1924 to protect the interests of the various owners of shares in the company, a family partnership, or GbR, is established.
The military government permits the resumption of production. The plant in Lüdenscheid is the only manufacturer in Europe to begin producing holders for fluorescent lamps.
The offices and warehouse at the Werdohl plant are destroyed by a bomb. Production comes to a standstill. The subsidiaries for the marketing of decoration products in Kaliningrad, Wroclaw, and East Germany no longer belong to the company.
The Lüdenscheid plant is equipped with insulation presses and new production machines. As there is not enough space in the existing factories, an imposing new building is put up. The workforce in Lüdenscheid comprises 250 employees.
On January 1, the separate companies are joined to form Vossloh-Werke GmbH. The trading companies remain independent as subsidiaries.
In Lüdenscheid, the synthetic material 'Bakelite' is used for the first time, in addition to porcelain and metal, for manufacturing lampholders.
On January 31, Eduard Vossloh, Jr., dies as the result of a serious illness.
Engineer Karl Vossloh develops the 'high-tension spring washer.' Wilhelm Bomnüter enters the company, joining its Management Board in 1938.
The company acquires full ownership of a woodworking company in Dillenburg, in which it had already held a stake. This operation facilitates expansion into the Decoration division.
New sales companies for decoration products include Appel & Pfannschmidt in Kassel, Hansa Metallwarengesellschaft Thiessen & Hager in Hamburg, Metag in Cologne, along with bases in the Netherlands and Spain.
A new factory building is added to the plant in Lüdenscheid, and production of aluminum flatware is replaced by the manufacture of decorative products. Holders for Edison lamps are now also produced.
Construction in Werdohl as well. A new building for warehousing finished products and for offices is built on the former Schützenplatz.
On December 20, Eduard Vossloh KG is divided into three separate companies with limited liability.
On August 7, to expand its production of decorative metal products, Eduard Vossloh KG acquires a plant on Gartenstrasse in Lüdenscheid from the Schiffer & Budde Company for 68,000 marks. The plant has 20 employees.
Forging activities are closed down. A wire- and pipe-drawing plant and a rolling mill are built.
The company purchases a plot from the Werdohl Shooting Club which borders directly on the company grounds.
Eduard Vossloh KG has approximately 250 employees.
On October 25, the Eduard Vossloh Company is converted from a general commercial partnership into a limited partnership. Hermine Vossloh becomes the limited partner.
On October 19, company founder Eduard Vossloh dies. He has left instructions for his five children to continue to run the company as a general commercial partnership. His sons Eduard, Jr., and Wilhelm initially take over the management, as Karl, Ernst and Hermine are still underage. The company has 38 employees at this time.
The Vossloh family moves from Neustadtstrasse in Werdohl to the property on the Steinbrink that it had purchased in 1887, having built a new house and adjacent workshop there.
On July 11, the Eduard Vossloh Company is entered in the company register at the local court of Altena. The blacksmith's shop is expanded, and, in addition to spring washers, other hardware items and curtain rods are added to the production range.
Eduard Vossloh submits a bid to the Royal Prussian Railway for the manufacture of spring washers for rail fasteners and is granted the commission as a disabled veteran.
At the blacksmith's shop adjacent to his parental home, Eduard Vossloh begins to practice the craft he has learned.
On November 29, Eduard Vossloh is born in Werdohl, Westphalia.