HELSINKI: A tram manufactured by Transtech stopped in front of the Central Railway Station during a test run in August 2013. Škoda announced on Tuesday that it has acquired a controlling stake in Transtech, a Finnish manufacturer of rolling stock, for an undisclosed price.
The takeover will according to Leif Ekström, the board chairman at Transtech, promote the growth and internationalisation of the rolling stock manufacturer. Transtech is hopeful that its new owner will especially boost the exports of its new tram, with Ekström admitting that the company has struggled to convince global rolling stock buyers due to its modest size.
“We’ve given it a go at least ten times, but it has always boiled down to the number of references. The door is now open,” he affirms. Olli Rehn (Centre), the Minister of Economic Affairs, expressed his delight with the acquisition on Tuesday.
“The corporate acquisition will solidify the position of Transtech as a leading rolling stock manufacturer and guarantee that crucial expertise remains in Kainuu. It is excellent news for the employees, customers and sub-contractors of the company as well as for the regional economy in Kainuu,” Rehn states in a press release.
