Chinese train manufacturing giant CRRC (China Railway Rolling Stock Corporation) is set to establish its first manufacturing base in Europe following its acquisition of Vossloh’s factory in Kiel, Germany.
The purchase, by subsidiary CRRC Zhuzhou Locomotive Co (CRRC ZELC), became effective on 31 May 2020 following official approval by the Bundeskartellamt (German Federal Cartel Office) on 27 April.
With the sale of its Locomotives business unit, Vossloh has now disposed of all three of its original Transportation businesses. The former Rail Vehicles and Electrical Systems (Vossloh Kiepe) business units were sold to Stadler in 2015 and Knorr-Bremse in 2017, respectively.
Oliver Schuster, chief executive officer of Vossloh AG, 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.”