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12/14/2006

Vossloh teaming up with Spanish rail company

Vossloh teaming up with Spanish rail company to enter high-growth locomotive services sector—Annual sales planned in region of double-digit million euros—Vossloh holding majority stake

The Vossloh Group has set up together with the Spanish state rail company Renfe a joint venture (ERION) for the purpose of maintaining and repairing locomotives.

Vossloh holds a 51-percent majority stake in the venture, the remaining 49 percent is owned by Renfe.

ERION is Vossloh’s first cross-border venture of this kind. The locomotives to be serviced and repaired, are around 50 long-distance S/333 and S/334 units built by Vossloh.

In two years ERION expects to generate double-digit million sales annually.

Experts predict an accelerated growth for the services segment of the rail sector over the years ahead. “In setting up ERION, Vossloh now has a foothold in this high-growth segment,” says the Group’s CEO Dr. Gerhard Eschenröder.

Werdohl, December 14, 2006