On 4 August Škoda Transportation announced the acquisition of a controlling stake in Finnish rolling stock manufacturer Transtech from investment company Pritech Oy, owner since 2007, for an undisclosed sum. Ilka Brotherus will remain as a minority shareholder, and the Transtech name will be unchanged.
The manufacturer has a framework agreement to supply Artic low-floor trams to Helsinki, produces double-deck coaches and wagons for Finnish national freight and passenger operator VR Group and also undertakes other engineering projects as a subcontractor. It has 530 staff based in Oulu and Otanmäki.
“Škoda Transportation has been extremely successful over the last couple of years, particularly in export markets’, said Tomáš Krsek, Chairman of Škoda Transportation Group. “Our main long-term plan is to strengthen the company’s position in Western Europe in particular. The acquisition of Finnish company Transtech is one of the steps that will take us towards our goal.”
Zdeněk Majer, Vice President for Sales at Škoda Transportation, added: “With this acquisition Škoda Transportation is becoming a key player in the field of railway and urban rail vehicles on the Finnish market.
“Another benefit of the acquisition is the know-how of a Finnish company in the field of rail vehicles which are operated in challenging climatic conditions as well as high-speed and pressure-tight cars. I strongly believe that we will use this know-how and other skills in tenders which we plant to participate on in Scandinavia in the coming months.”