Bombardier Transportation becomes sole owner of Polish joint venture with PKP
Posted: 25 February 2011 | | No comments yet
Bombardier Transportation acquired the remaining 60% of the shares in the joint venture Bombardier Transportation (ZWUS) Polska Sp. z o.o…
Bombardier Transportation acquired the remaining 60% of the shares in the joint venture Bombardier Transportation (ZWUS) Polska Sp. z o.o...
Bombardier Transportation acquired the remaining 60% of the shares in the joint venture Bombardier Transportation (ZWUS) Polska Sp. z o.o, from Polish Railways PKP S.A. and became the sole owner of the company. The acquisition was finalized today.
The purchase price for the shares amounts to 150 million Polish zloty ($52 million US, 38 million euro) and may be increased by an additional amount not greater than 83 million Polish zloty ($29 million US, 21 million euro) depending on contract conditions to be fulfilled regarding the size of the signalling market in Poland.
Bombardier Transportation (ZWUS) Polska Sp. z o.o. has over 80 years experience operating in both Polish and international railway markets. Its innovative technical solutions, including BOMBARDIER EBI Lock interlocking, EBI Gate level crossing and EBI Track detection systems, EBI Switch point machines and EBI Light signals, are installed across Poland and are also achieving high levels of type approval globally. The company will continue to develop its technology for the Polish and global markets, contributing to the modernization of the Polish rail network.
“The purchase of the shares by our previous co-owner constitutes a good base for future development. From the very beginning, Bombardier Transportation has taken part in the development of the company’s value in the Polish market”, said Maria Wasiak, acting chairman of PKP S.A. who commented on the closing. “We hope that the company will continue to contribute to increasing the quality of railway services in Poland.”
Commenting on the announcement, Andre Navarri, President and COO of Bombardier Transportation, said: “This acquisition is a landmark for Bombardier Transportation, I am extremely pleased that we have reached this agreement with our long term partner PKP S.A., and will be able to further increase our already strong presence in the rail control sector in the region and expand our signalling technology interests.”
Anders Lindberg, President Rail Control Solutions, Bombardier Transportation, stated: “Poland is a very important market for our rail control solutions and the Katowice site a significant part of our capability. I look forward to this next and exciting phase in our relationship with the market and welcoming the Katowice site to Bombardier.”
Bombardier Transportation’s Rail Control Solutions portfolio covers the complete range of BOMBARDIER CITYFLO mass transit solutions, from manual to fully automatic systems, as well as communication-based systems. It also provides BOMBARDIER INTERFLO mainline solutions, from conventional systems to ERTMS level 2 systems. Bombardier Transportation solutions encompass a broad portfolio of wayside and onboard products.