Knorr-Bremse is to acquire Vossloh Kiepe – the Electrical Systems unit of Vossloh AG – with both companies signing an agreement to that effect subject to approval by anti-trust authorities.
“With the acquisition of Vossloh Kiepe, who have amassed more than a century of experience in electrical systems for rail vehicles, we are taking the logical next step in the successful development of our business,” said Knorr-Bremse chairman, Klaus Deller.
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“For our customers the main focus is on the technological benefits generated by greater sub-system connectivity. Along with our rail vehicle systems portfolio, our commercial vehicle systems offering will also be expanded as a result of the acquisition.
“Given the increasing levels of electrification in the commercial vehicle sector, as a systems supplier for electric buses, Vossloh Kiepe opens up new growth opportunities and potential applications in this segment.”
For his part, Vossloh CEO, Martin Schabert added: “With the sale of its Electrical Systems business, Vossloh has reached another milestone in the deployment of its corporate strategy.
“Following long and intensive negotiations with various interested parties, in Knorr-Bremse we have found a financially robust partner for Kiepe. Under the management of its future owner, Kiepe will have great opportunities and new prospects for successful long-term development.”
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