Vossloh AG successfully completed the acquisition of the Australian concrete ties manufacturer Austrak Pty Ltd. ('Austrak') through its subsidiary Vossloh Australia Pty Ltd. today. All the necessary closing conditions were authorized, including merger control clearance by the Australian authorities. The contract for the acquisition of Austrak was signed on August 3, 2018, with the former owner Laing O'Rourke.

This acquisition serves to expand the Company's product portfolio in the Australian market by concrete ties and increase Vossloh's vertical integration in the Australian rail infrastructure business. 'The acquisition of Austrak marks another milestone in our growth strategy. We are very pleased that the acquisition is completed and welcome Austrak to the Vossloh Group,' says Andreas Busemann, CEO of Vossloh AG.

In the future, Austrak will be part of the Tie Technologies business unit in the Core Components division.

Attachments

  • Original document
  • Permalink

Disclaimer

Vossloh AG published this content on 30 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 November 2018 10:46:05 UTC