USA: On July 31 Faiveley Transport confirmed that it had completed the acquisition of a 100% equity shareholding in Ellcon-National, a manufacturer of braking equipment and wagon loading devices based in Greenville, South Carolina. With a staff of around 300 people, Ellcon-National recorded sales of US$58m in 2007.
Describing the acquisition as a 'strategically importabt, Faiveley Transport CEO Robert Joyeux said 'Ellcon-National is the perfect strategic match ... the combination of both activities will allow us to improve our offer in both the US and the railway freight market, where up to now we have had a limited presence'.
The Greenville site will become Faiveley's North American headquarters, and will continue to trade as the Ellcon-National Division of Faiveley Transport Group. Ellcon-National President Doug Kondra will remain as divisional CEO, and become chairman of the board in succession to former owner Emil Kondra who is to retire after 67 years with the company.
Welcoming the sale, Emil Kondra said the Greenville operation 'will grow effectively with the production and marketing of additional products, and make the Ellcon-National Division a much stronger, vibrant enterprise in the railroad and mass transit markets'.
