Locomotives unit will be sold to Chinese manufacturer
Vossloh, a provider of railway infrastructure based in Germany, has signed a contract for the sale of its locomotives business unit to the Chinese manufacturer CRRC Zhuzhou Locomotive. The agreed purchasing price is said to amount to a low single-digit million figure. The transaction is still subject to authorisation by the respective authorities in Europe and China.
The locomotives business unit is the last one remaining from the original three business units of the transportation division that Vossloh has been selling off since the decision was made to strategically focus on rail infrastructure.
The former business segments rail vehicles and electrical systems were sold in 2015 and 2017, respectively. (ben)