Sale of Electrical Systems to Knorr-Bremse completed

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.