Stadler has announced its intention to acquire Swedtrac, a subsidiary of Knorr-Bremse.
The two companies have signed an agreement for the acquisition, which is expected to be finalised by the end of Q1 2018, to go ahead.
Swedtrac – a subsidiary of Knorr-Bremse Nordic Rail Services AB – will become part of Stadler Service Sweden AB.
Knorr-Bremse said it was undertaking “a strategic realignment of its vehicle services business in the Swedish and Scandinavian market”.
Klaus Deller, chairman of the executive board of Knorr-Bremse AG, said: “We are continuing to focus on our core competencies as a key supplier for the railway industry – offering subsystems and components and the related services.
“For a leading independent rolling stock manufacturer like Stadler, Swedtrac will create substantial added value and drive forward the development of the company.
“Knorr-Bremse and Stadler have longstanding good business relations at all levels for many years. So, also in the future, Knorr-Bremse will support Swedtrac with subsystems for vehicle refurbishment.”
Swedtrac, which employs 106 people, provides overhaul, refurbishment and repair services to fleet operators across Scandinavia.
Jürg Gygax, executive vice president of Stadler Service AG, said: “Stadler Service is proud to be expanding its modernization activities of existing vehicle fleets with this takeover.
“This is the perfect way to incorporate our know-how about a wide model range of complete trains and to ensure even greater customer proximity. We are looking forward to be working with the Swedtrac specialists and wish to extend to them a warm welcome.”
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