Vossloh: Another major order won for rail fastening systems in China
Vossloh Fastening Systems has won another important order for the delivery of rail fastening systems for high-speed lines in China. This new order encompasses an equivalent volume of more than €40 million. The fastening systems are produced for the new-built high speed line connecting the cities Hangzhou and Taizhou, located south of Shanghai. The deliveries are to be started already in 2019, but are mainly expected from 2020 onwards. This order won confirms Vossloh’s expectation that sales in China in 2020 will substantially increase compared to the current year. In 2018, Vossloh had already received three major orders in China with a cumulated volume of about €85 million, most of these deliveries will also occur after 2019.
Andreas Busemann, Chief Executive Officer of Vossloh AG: “The Vossloh Group has started the fiscal year 2019 with high order intakes. This new order from China continues this trend and underscores again strongly our continued good market positioning in the high-speed segment for fastening systems in the Chinese market. Since the first major order in fiscal year 2018, the order backlog in the Chinese company of the business unit has more than tripled.”
Vossloh has been present in China since 2006. Kunshan-based Vossloh Fastening Systems China Co. Ltd. is one of the locally leading providers of rail fastening systems for use on high-speed lines. At about 25,000 kilometers, China possesses the largest and most modern high-speed network in the world. Additional high-speed projects are under construction or in the planning stage, and should expand the rail network to 38,000 kilometers by 2025.
Werdohl, May 6, 2019
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Vossloh is active in rail technology markets worldwide. The Company’s core business is rail infrastructure. The Group activities are organized into the three divisions of Core Components, Customized Modules and Lifecycle Solutions. In the 2018 fiscal year, Vossloh achieved sales of €865 million with approximately 3,800 employees.