Finnish company Transtech will now be known as Škoda Transtech following its acquisition by Škoda Transportation Group in May 2018.
Transtech, the only rolling stock manufacturer in Scandinavia, was founded in 1985.
Its headquarters are located in the city of Oulu. It also has a production site in the village of Otanmäki and sales offices and maintenance facilities in Helsinki.
Škoda Transtech, which specialises in the production of low-floor trams and double deck coaches, is currently supplying trams to Helsinki, the city of Tampere and coaches for Finnish Railways. It will also participate in the supply of trams for German public transport company Rhein-Neckar-Verkehr.
Škoda Transtech chair Zdeněk Majer said: “In less than three years we have managed to successfully restructure and stabilise Transtech.
“During this period, we have also increased the number of employees from 500 to 650. The company’s annual sales reached more than €115 million.
“Škoda Transtech became a significant player within the Škoda Transportation Group and opened for us more business opportunities on the Western markets. Our task now is to continue the process of integration of Škoda Transtech into the Škoda Transportation Group.”
Škoda Transportation Group chair and CEO Petr Brzezina added: “The long-term intention of the Škoda Transportation Group is to consolidate its position on the Western European markets.
“This is also the intention of the new owner, the international investment PPF Group, under whose leadership we have succeeded in finalising the acquisition of the Finnish company Transtech this year.”