The acquisition is expected to be completed in the second half of 2020. The completion of this acquisition will depend on whether it can be approved by relevant regulatory authorities and meet other relevant conditions of M&A.. Both parties indicated that they would not disclose the purchase price for the time being.
Member of Voith Group Management Committee, President and CEO of Group Drive Division? Dr. Uwe Knotzer said, "Voith is a leader in driving technology in many industries. TSA's product portfolio and market positioning are an excellent complement to our drive solutions in the field of rail transit and commercial vehicles, and will consolidate our position as an independent supplier of drive system technology. With 60 years of experience accumulated by TSA, we will bring many advantages to our customers in the electrification field of power transmission systems. "
Oliver Streuli, CEO of PCS Holdings, said, "This acquisition will enable PCS to obtain the top technology in the field of electric drive from its long-term strategic investment. In addition, we hope that the cooperation with Voith will provide a strong impetus for developing new potential markets, especially in the field of commercial vehicles. PCS believes that TSA has a dominant position in related industries and can benefit from the current electrification trend of driving technologies in various industries. "
After the acquisition, TSA will be jointly owned by Voith Group, PCS Holding Company, former long-term shareholder Duswald Co., Ltd. and TSA general manager Magister Robert Tencl. The new shareholding structure is more stable, which will be conducive to the formulation of strategic development strategies, thus helping TSA, as an independent expert in the driving field, to expand new markets, master cutting-edge technologies and obtain financing opportunities.
The former company * * * and its owner, Dr. Gunter Eichhubl, have sold their shares and will continue to be the general manager of the company until June 30, 20021.
Austrian Railway System Company (TSA) is an Austrian company located in the historic new town of Vienna. For 60 years, the company has been producing traction drives at Braun Bofari factory in Neudorf, Vienna. Its products have excellent performance and reliable operation, and sell well in 55 countries and regions around the world. TSA has 380 employees in Austria and 390 employees in other countries such as Bosnia and Herzegovina, USA, China and a joint venture company. TSA's series of products provide innovative solutions to the ecological and technical challenges faced by rail transit and commercial vehicles in the future. TSA will continue to develop new energy-saving products to promote the organic growth of the Group's business.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.