Lund – Malmö quadruple tracking contract
Prime Minister inaugurates Napoli Afragola station
ÖBB starts Pyhrnstrecke station upgrading
Weekly LCL service widens appeal of China-Europe rail route
Siemens to buy planning software company HaCon
Hupac orders eight multisystem locomotives
Montecargo privatisation cancelled
IONX and Ermewa agree telematics partnership
High-value chemicals travel from China to Europe by rail
DB Regio selected for Rhein-Neckar operating contract
ULTIMATE Europe, a supplier of automatic door systems and gangways, has acquired a majority stake in its Turkish and Romanian supplier partners.
The Austrian company has acquired majority stake Turkey-based AFS-Teknic and Romania-based O.D. Tehnic for an undisclosed amount.
The companies have adapted their names to accommodate the new majority relationships
AFS-Teknic will be named ULTIMATE Taşimacilik Ekipmanlari (ULTIMATE Turkey) and the Romanian firm will be called ULTIMATE Transportation Equipment (ULTIMATE Romania).
ULTIMATE Europe expects the deal to aid it in meeting the Turkish and Romanian market requirements, as well as metal manufacturing demands in Europe.
Based in Amstetten in Lower Austria, ULTIMATE employs around 1800 employees in its locations at Austria, Turkey, Brazil, USA, China and Australia.
It develops and sells products for rail vehicles such as transitions, automatic door systems, and interior fittings. Its products adhere to the International Railway Industry Standard (IRIS) and International Organization for Standardization (ISO) vehicle standards.
The company caters to the Original Equipment Manufacturer (OEM) and Refurbishment customers.
ULTIMATE Europe CEO Ing. Manfred Teufl said: “With the qualified majority ownership, we are able to increase our focus on the European business and are taking a further step towards local manufacturing.
“We can now meet the future requirements of the European market much more flexibly and with greater customer-orientation, and are convinced that this will bring considerable added value for many European users of public transport facilities in the rail sector.”
The post ULTIMATE Europe buys majority stake in supplier partners appeared first on Railway Technology.
This article first appeared on www.railway-technology.com
About this website
Railpage version 3.10.0.0037
All logos and trademarks in this site are property of their respective owner. The comments are property of their posters, all the rest is © 2003-2020 Interactive Omnimedia Pty Ltd.
You can syndicate our news using one of the RSS feeds.