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Saturday, September 19, 2020

Vossloh sells German locomotives business to China’s CRRC

German group Vossloh AG has sold its Locomotives business unit, based in Kiel, Germany, to the world’s largest train manufacturer, China Railway Rolling Stock Corporation (CRRC).

The purchase was made by CRRC ZELC (CRRC Zhuzhou Locomotive Co) on 31 May 2020, following approval from the German Federal Cartel Office (Bundeskartellamt) a few weeks earlier.

The Locomotives business unit develops and produces diesel-electric locomotives and offers all the maintenance and repair services that they require. Its sale marks the end of Vossloh’s original Transportation division – the other two units, Rail Vehicles and Electrical Systems, were sold in 2015 and 2017.

Vossloh chief executive Oliver Schuster said: “The sale of our Kiel-based locomotive business is an extremely important milestone in Vossloh’s strategic development. It marks the end of a fundamental realignment of our company over several years. From now on, Vossloh’s focus will be entirely on rail infrastructure products and services.

“I am delighted that in CRRC ZELC we have found a strong, reliable and above all long-term buyer for our former Locomotives unit. We are convinced that the future prospects of Locomotives will improve significantly with CRRC ZELC as new owner.”

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