03.08.2018
Vossloh Aktiengesellschaft DE0007667107
DGAP-Adhoc: Vossloh Aktiengesellschaft: Vossloh expands product portfolio in Australian growth market with the acquisition of the tie manufacturer Austrak
DGAP-Ad-hoc: Vossloh Aktiengesellschaft / Key word(s): Mergers &
Acquisitions
Vossloh Aktiengesellschaft: Vossloh expands product portfolio in Australian
growth market with the acquisition of the tie manufacturer Austrak
03-Aug-2018 / 13:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Vossloh AG signed a contract today through its subsidiary Vossloh Australia
Pty Ltd. with the international engineering enterprise Laing O'Rourke for
the acquisition of the Australian rail infrastructure company Austrak Pty
Ltd. ("Austrak"), thereby further expanding its position as a leading global
rail infrastructure provider.
Austrak is the leading manufacturer of concrete ties in Australia. In
several production facilities in various Australian states, the company
produces switch ties and concrete elements for rail crossings in addition to
track ties. The company headquarters is in Brisbane, which is located on the
East Coast of Australia. In the 2017/18 fiscal year, which ended on March
31, 2018, Austrak generated sales of AUD 52.3 million (the equivalent of
around EUR33.2 million). In the next few years, the Australian market will
offer good growth opportunities for Vossloh, particularly in view of
significant mining projects in Western Australia as well as major
infrastructure projects on the East Coast.
The purchase price of the transaction as of the closing date is expected to
amount to AUD 50.5 million (the equivalent of around EUR32.0 million) and
can increase to a maximum of AUD 54.5 million (the equivalent of around
EUR34.6 million) over the course of the next two years, depending on
business development. The Supervisory Board of Vossloh AG has already
approved the acquisition. Additional conditions must still be met for the
acquisition to be completed. The transaction is above all still subject to
merger control clearance by the Australian authorities. Closing is being
aimed for in the third quarter of 2018.
In the future, Austrak will be part of the Tie Technologies business unit in
the Core Components division.
Contact:
Vossloh Aktiengesellschaft
Investor Relations
Dr. Daniel Gavranovic
Phone: +49-2392-52-609
Mail: [email protected]
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Language: English
Company: Vossloh Aktiengesellschaft
Vosslohstr. 4
58791 Werdohl
Germany
Phone: +49 (0)2392 52 - 359
Fax: +49 (0)2392 52 - 219
E-mail: [email protected]
Internet: www.vossloh.com
ISIN: DE0007667107
WKN: 766710
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service
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710741 03-Aug-2018 CET/CEST
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