posted on 4th May 2020 17:14
Technology Group Voith and PCS Holding of Frauenfeld (belonging to Peter Christoph Spuhler, the Stadler Rail owner) are planning to acquire a combined 59 % of the shares in Traktionssysteme Austria GmbH (TSA). A corresponding purchase contract was signed on 29 April 2020. TSA is the world's leading manufacturer of electric motors, generators and transmissions for rail and road vehicles. The closing of the transaction is anticipated to occur during the second half of 2020 and is subject to regulatory approvals and meeting other usual closing conditions. Both parties agreed not to disclose the purchase price.
„Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,“ states Dr. Uwe Knotzer, Member of the Voith Corporate Board of Management and President & CEO Group Division Voith Turbo.
„This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries," says Oliver Streuli, CEO of PCS Holding.
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Magister Robert Tencl. The previous co-owner, Dr. Günter Eichhübl, has sold his shares and will also remain as a Managing Director of the company until 30 June 2021.
Traktionssysteme Austria is located at a site with a long-standing tradition. For 60 years, the company has been manufacturing traction drives at the former Brown Boveri plant in Wiener Neudorf. The company employs 380 people in Austria and has a further 390 employees at other locations in Bosnia-Herzegovina, the USA, China and in a joint venture in India.