Vossloh AG successfully completed the acquisition of the Australian concrete ties manufacturer Austrak Pty Ltd. (“Austrak”) through its subsidiary Vossloh Australia Pty Ltd. today. All the necessary closing conditions were authorized, including merger control clearance by the Australian authorities. The contract for the acquisition of Austrak was signed on August 3, 2018, with the former owner Laing O’Rourke.
This acquisition serves to expand the Company’s product portfolio in the Australian market by concrete ties and increase Vossloh’s vertical integration in the Australian rail infrastructure business. “The acquisition of Austrak marks another milestone in our growth strategy. We are very pleased that the acquisition is completed and welcome Austrak to the Vossloh Group,” says Andreas Busemann, CEO of Vossloh AG.
In the future, Austrak will be part of the Tie Technologies business unit in the Core Components division.
Werdohl, November 30, 2018
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Vossloh is active in rail technology markets worldwide. The Company’s core business is rail infrastructure. The Group activities in the area of rail infrastructure are organized into the three divisions of Core Components, Customized Modules and Lifecycle Solutions. In the 2017 fiscal year, Vossloh achieved sales of about €920 million in its core business, with more than 3,900 employees.