The reorganisation replaces separate corporate structures across Austria, Liechtenstein and Switzerland with a single holding company, while the four sub-groups continue to operate independently and the family retains full ownership.
The Max-Theurer family is reorganising its railway infrastructure businesses under a single holding company, JMT Industrie Holding GmbH, domiciled in Austria. The sub-groups Plasser & Theurer, Robel, Matisa and Speno are being brought together under the new umbrella.
The four sub-groups expect to generate consolidated revenues of around EUR 1.7 billion in 2026 and employ around 7,900 people worldwide. The steps required under company law to implement the new structure are due to be completed by the end of 2026.
Four independent sub-groups under one holding
Until now, the companies have been held in separate corporate structures in Austria, Liechtenstein and Switzerland. The reorganisation will result in a uniform group structure of four independently managed sub-groups. Robel, Speno and Matisa have been part of the owner family’s investment portfolio for decades and will continue to be run as independent companies. All four companies will retain their brands, management, sites and customer relationships.
Plasser & Theurer Group will bring together all of the international Plasser companies under Plasser & Theurer in Austria. The newly formed group expects to generate revenues of around EUR 1.1 billion and employs around 5,600 people worldwide, including 2,300 in Austria.
Robel Group, based in Freilassing, Germany, manufactures machines, systems and services for the construction and maintenance of rail infrastructure, with growth areas in automation and rail treatment.
Matisa, based in Crissier, Switzerland, builds specialised and heavy-duty machines for track construction and maintenance, with a strong market position particularly in Europe. Speno International, based in Geneva, is described by the group as one of the world’s leading specialists in rail grinding and rail care.
Each of the three expects revenues of around EUR 200 million in 2026, with around 1,000 employees at Robel, 600 at Matisa and 700 at Speno.
We are restructuring all our companies and, in doing so, building a future-ready, high-performing organisation – the foundation for further growth.”
Plasser & Theurer repositions after turnaround
The reorganisation follows what the group describes as Plasser & Theurer’s successful turnaround. In 2025, the company recorded record revenue of EUR 731 million, EBIT of EUR 41.4 million and order intake of around EUR 1 billion. Its order backlog is worth more than EUR 1.6 billion.
Plasser & Theurer and its subsidiaries worldwide are being consolidated into Plasser & Theurer Group GmbH, formerly Plasser & Theurer, Export von Bahnbaumaschinen, Gesellschaft m.b.H.
Johannes Max-Theurer, owner and CEO of the Plasser & Theurer Group, said: “We have achieved a great deal over the past two years, despite the challenging circumstances. To build on this success, we are now putting the right structure in place. We are restructuring all our companies and, in doing so, building a future-ready, high-performing organisation – the foundation for further growth.”
Linz investment and ownership
Plasser & Theurer has production sites, workshops and branches on every continent, and Linz remains the group’s largest production site. A new assembly and commissioning workshop is being built there, representing an investment of more than EUR 60 million. The company describes it as the largest single investment in its history, and it will create around 80 new jobs. The workshop is due to open on 16 October.
Max-Theurer said: “This investment decision was taken despite the current conditions in Europe. Energy costs, non-wage labour costs, and bureaucracy are placing a significant burden on us in the face of international competition.”
He called on the political sector to change framework conditions so that an export company like Plasser & Theurer can remain competitive in Austria.
The group remains 100 per cent owned by the Max-Theurer family, with no plans to sell, bring in investors or pursue a stock market listing. Contracts and points of contact will remain the same for customers, suppliers and employees.
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