On May 29, 2020, Vossloh AG finalized the sale of its locomotive business unit to CRRC Zhuzhou Locomotive Co., Ltd. (CRRC ZELC), a core subsidiary of the China Railway Rolling Stock Corporation Ltd. (CRRC). The transaction becomes effective on May 31, 2020. With the approval by the Bundeskartellamt (German Federal Cartel Office) on April 27, 2020, all official approvals required within Germany and abroad for the execution of the transaction have been successfully granted.
Oliver Schuster, Chief Executive Officer of Vossloh AG, highlights:
“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 with CRRC ZELC we have found a strong, reliable and above all a long-term buyer for our former locomotives unit. We are convinced that the future prospects of Vossloh Locomotives will improve significantly with CRRC ZELC as its new owner.”
Vossloh Locomotives is headquartered in Kiel, Germany. The company develops and produces diesel-electric locomotives and offers all maintenance and repair services they require. CRRC ZELC was founded in 1936 and is a core subsidiary of the world´s largest manufacturer of rail vehicles, CRRC.