KNORR-BREMSE COMPLETES VOSSLOH KIEPE ACQUISITION
KNORR-BREMSE HAS completed the acquisition of Vossloh’s electrical systems business unit, VosslohKiepe.
The companies signed an agreement governing the acquisition in December 2016, which was subject to a number of provisos, in particular antitrust clearance, which the companies say have now been met.
The transaction was valued at €72.5 million, and the transfer is due to take place retrospectively from 1 July 2016.
The electrical systems unit, based in Düsseldorf, is the second of three business units in the Transportation division that Vossloh is selling as part of its strategy of focusing group activities on rail infrastructure. The company sold its rail vehicles business unit, based in Valencia, Spain, to Stadler in 2015 for a cash payment of €48 million.
The Transportation division’s remaining business unit, locomotive manufacture based in Kiel in Germany, is now also up for sale.
UNIPART ACQUIRES INSTRUMENTEL
UNIPART RAIL has acquired a controlling stake in technology company Instrumentel Ltd.
Instrumentel is a leader in the design and manufacture of telemetry systems for rail, automotive and industrial processes. The company provides products to give …
