Sale of Electrical Systems to Knorr-Bremse completed

  • Further milestone in the implementation of the Group strategy reached
  • Process for the sale of Vossloh Locomotives intensified

The sale of the Vossloh AG’s Electrical Systems business unit to Knorr-Bremse Systeme für Schienenfahrzeuge GmbH, a wholly-owned subsidiary of Knorr-Bremse AG, Munich, was successfully completed today. The German Federal Cartel Office granted the merger control clearance required for the purchase agreement, signed on December 21, 2016, on January 20, 2017. With the completion of the transaction, net financial debt of the Vossloh Group will be reduced by an amount in the order of €45 million.

Dr.h.c. Hans M. Schabert, Chairman of the Executive Board of Vossloh AG: “The transformation of Vossloh into a rail infrastructure group is at an advanced stage. We are pleased that the sale of the second of the original three business units of the Transportation division has now been completed. Vossloh’s profile as a focused, global and leading supplier of comprehensive solutions for rail infrastructure is becoming increasingly clear.”

The selling process of the remaining business unit of the Transportation division, Vossloh Locomotives, is currently being intensified. The starting point for the sale has sustainably improved. In particular the major order won in France, the relocation to a new and modern factory planned to be completed in mid-2017, and the advancing recovery of the locomotive business are significantly increasing the attraction of Vossloh Locomotives.

Werdohl, January 31, 2017

Contact information for the media:
Dr. Daniel Gavranovic
Phone: (+49-23 92) 52-608
Email: presse@vossloh.com

Contact information for investors:
Dr. Daniel Gavranovic
Phone: (+49-23 92) 52-608
Email: Investor.relations@vossloh.com

Vossloh is a global player in rail technology markets. Our core business is rail infrastructure. In addition, the Group is also active in the locomotive business. The activities of the Group are divided into the four divisions Core Components, Customized Modules, Lifecycle Solutions and Transportation. In financial year 2015, Vossloh (not including the Electrical Systems business unit) generated sales of about €950 million with approximately 4,100 employees.