škoda 2024

CAF - Alstom Transaction Finalised

posted on 1st Aug 2022 19:15

As a continuation of the information issued on 24 November 2021 regarding the CAF's acquisition of the Alstom’s Reichshoffen works, the Coradia Polyvalent and the Talent 3 platforms and after obtaining the regulatory authorisations needed for the purchase-sale agreement, on 1 August 2022 the closing of the operation has been formalised.

The scope of the acquisition includes several assets in France and Germany: CAF will integrate the Reichshoffen works, the Coradia Polyvalent platform with its associated project portfolio, as well as the intellectual property of the Talent 3 platform aimed at the German and central European markets together with related key engineering personnel.

Reichshoffen resources and personnel, with over 700 employees in the fields of engineering, sourcing and supply chain, project management, manufacturing and administration, have proven experience in railway projects for the most demanding customers as well as great potential which will allow the manufacture of a wide range of vehicles. Furthermore, its strategic location also makes it suitable for delivering to customers of other European markets.

The Coradia Polyvalent platform is aimed for regional and interurban (international) operation, capable of reaching a maximum speed of 160 km/h, available in electric or bimodal traction that will provide CAF with a project portfolio worth approximately 500 million EUR. Among others, a relevant project with SNCF Voyageurs stands out, as well as other customer projects like Hello Paris Services (“Hello Paris”), Régie Autonome des Transports Parisiens (RATP) or L'Agence de the Promotion des Investissements et des Grands Travaux (Apix). The agreement reached guarantees the workload at the Reichshoffen site for the coming years.

In addition, the German perimeter of the agreement includes the intellectual property of the 160 km/h Talent 3 platform, and the transfer of a related team of German engineers. This will boost CAF's design and approval capabilities in the German and central European markets. The main appeal of these assets lies in the strengthening of CAF in the French market, adding local operational capabilities to those already existing at the Bagnères-de-Bigorre site. 

This operation is a new step in CAF's inorganic growth strategy, following the acquisition of Solaris in 2018 and EuroMaint in 2019 among others. With these acquisitions CAF confirms its commitment to continue growth in the rolling stock and services business, strengthening accordingly its position as one of the references in the provision of transportation and mobility solutions and services. The company value of the perimeter acquired is 75 million EUR and has been financed with CAF debt.

To ensure a seamless transition, Alstom will honour its remaining obligations under existing orders for Talent 3, and will operate in consortium with CAF to fulfil existing contracts for rolling stock delivery from the Reichshoffen site.

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