CZ/SK verze

Vossloh Expands Swedish Rail Operations with STG Acquisition

Vossloh Expands Swedish Rail Operations with STG Acquisition
photo: UIRR / Public domain/Railway tracks
22 / 05 / 2024

Vossloh AG has officially announced its acquisition of Scandinavian Track Group (STG), enhancing its role in Sweden's rail sector.

STG is recognized for leading the market in switch services and advanced welding for rail tracks and also provides a wide range of inspection and consulting services. This acquisition strengthens Vossloh's position in the Swedish and, eventually, the broader Scandinavian market by expanding its current service offerings and aligning with its sustainability initiatives, which include refurbishing used rail components for reuse.

Oliver Schuster, CEO of Vossloh AG, emphasized the strategic benefits of this move, stating, "STG fits perfectly to our portfolio, offers many synergies, and strengthens our position in the innovative Swedish market." He pointed out that this acquisition supports Vossloh's goal to provide comprehensive, customized solutions to their customers, enhancing their competitive edge. This approach aims to streamline Vossloh’s services across various divisions, making it easier for customers to receive integrated solutions from a single source.

The deal is expected to close by mid-2024, pending regulatory approval from the Swedish Competition Authority and the Swedish Ministry of Economic Affairs. STG, which employs about 120 people and generated EUR 22.3 million in sales in 2023, will join Vossloh's Lifecycle Solutions division. Jan Furnivall, COO of Vossloh AG, welcomed the new team members and expressed confidence in the combined capabilities of the expanded team.