Vossloh Locomotives Acquired by CRRC

CRRC Zhuzhou Locomotive Company of China has acquired the Vossloh locomotives, a subsidiary of the VOSSLOH group. Vossloh has two manuacturing facilities at Kiel and Moers near Duisburg. Though the price of the deal has not been revealed it is expected to be a “low single digit million figure”. As per the deal, Vossloh is due to receive proceeds from the future sale of assets. This would result in a cash inflow of approximately Euro 10 million over the next few years. With this sale, Vossloh will focus on the rail infrastructure business. Vossloh Locomotives will continue doing business under its brand name for the time being. Also, no downsizing of the company human capital is expected.  This is CRRC’s first acquisition in Europe and is subject to approvals by relevant authorities in China and Europe.

Categories:News, Railways News

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