SWEDEN: Vossloh has signed an agreement to acquire Scandinavian Track Group, which provides rail infrastructure maintenance services in the ‘fast-growing and strategically important’ Swedish market.
STG’s activities include turnout installation and maintenance, rail welding, component refurbishment and track inspection services, with 120 employees and sales of €22·3m in 2023.
Vossloh said the acquisition ‘fits seamlessly’ into its sustainability strategy, and positions it in the complete value chain of turnout services.
‘STG fits perfectly to our portfolio, offers many synergies and strengthens our position in the innovative Swedish and, in the long term, Scandinavian market’, said Vossloh CEO Oliver Schuster on May 21.
The acquisition is expected to be completed in mid-2024, subject to regulatory approval.
