EQS-News

Vossloh expands service portfolio in Northern Europe through acquisition of Scandinavian Track Group (STG)

EQS-News: Vossloh Aktiengesellschaft / Key word(s): Takeover Vossloh expands service portfolio in Northern Europe through acquisition of Scandinavian Track Group (STG) 21.05.2024 / 09:30 CET/CEST The issuer is solely responsible for the content of this announcement. Vossloh expands service portfolio in Northern Europe through acquisition of Scandinavian Track Group (STG)

• STG is a leading company in the fields of switch services and track-specific welding services in Sweden
• The acquisition completes Vossloh's range of services and will cover the entire life cycle of switches in the future
• The transaction represents a major step towards a circular economy and supports the Group's sustainability strategy

Werdohl, May 21, 2024. Vossloh signed an agreement with the owners of its long-standing business partner Scandinavian Track Group (STG) to acquire the group. STG is a renowned provider of a broad portfolio of services with a sales focus on the fast-growing and strategically important Swedish rail infrastructure market.

STG offers various maintenance services for the rail track. STG is the market leader in Sweden for services relating to switches, such as their installation or maintenance, as well as for sophisticated welding services on the rail track. STG also offers a wide range of inspection consulting services based on its extensive technical expertise.

The purchase and refurbishment of used switches and other track components for resource-saving reuse completes STG's offering. The acquisition thus fits seamlessly into Vossloh's sustainability strategy and expands the service portfolio in the area of the circular economy. In the future, Vossloh will be ideally positioned in this region to offer the complete value chain of switches, from development and production to maintenance and the reconditioning of used switches.

"STG fits perfectly to our portfolio, offers many synergies and strengthens our position in the innovative Swedish and, in the long term, Scandinavian market. The acquisition follows our one-stop-shop approach, according to which we offer our customers tailor-made solutions across all divisions. In this way, we can fully utilize our strengths, further differentiate ourselves from the competition and offer our customers decisive added value from a single source. We are particularly pleased to welcome STG, a long-standing business partner, as a new member of the Vossloh family," says Oliver Schuster, CEO of Vossloh AG.