Vossloh

Vossloh AG
Company typeAktiengesellschaft
FWB: VOS
IndustryRail infrastructure
Founded1888; 136 years ago (1888)
FounderEduard Vossloh
Headquarters
Werdohl
,
Germany
Key people
Oliver Schuster (CEO)
Rüdiger Grube (Chairman of the supervisory board)
ProductsBroad range of rail fastening systems, concrete sleepers, switch systems as well as services related to the maintenance of rails and turnouts
Revenue918,3 Mio.€ (December 2017)[1]
Number of employees
3,685 (31.03.2017)[1]
Websitevossloh.com

Vossloh AG is a rail technology company based in Werdohl in the state of North Rhine-Westphalia, Germany. The SDAX-listed group has achieved sales of around €930 million in 2016 and, as of 2017, had more than 4,000 employees.[2]

Vossloh previously owned three business units for Electrical Systems, Locomotives, and Rail Vehicles. These were sold in 2015, 2020 and 2016 respectively. The brand name "Vossloh" is still used for products not related to Vossloh AG. For example, Vossloh locomotives are since 2020 made by China Railway Rolling Stock Corporation (CRRC).[3]

Vossloh is a global market leader both for rail fasteners and switch systems. In North America, Vossloh is the leading manufacturer of concrete railway ties, and offers a globally unique grinding technology, so-called high-speed grinding, for track maintenance.

Customers are generally public and private railway companies and network operators, as well as regional and municipal transport companies.

Since its restructuring, Vossloh has been focusing on target markets China, the US, Russia and Western Europe. Important Vossloh production sites are in Germany, France, Luxembourg, Poland and Scandinavia. In addition, the group has subsidiaries in Asia, North and South America, Australia and Russia.[2][4]

History

The company is named after Eduard Vossloh. In 1883, the blacksmith received the first contract from the Royal Prussian Railway for the manufacture of spring washers for rail fasteners. On July 11, 1888, the Eduard Vossloh Company was registered. Spring washers and other hardware items were manufactured at the family's blacksmiths shop. Even today, Werdohl is still the headquarters of Vossloh AG and Vossloh Fastening Systems GmbH (Core Components division).[5]

Through the early 20th century, the company continued to grow, producing general hardware, including decorative items and lampholders for electric lights.[5]

In 1945, the facilities in Werdohl were destroyed by a bomb. Subsidiaries marketing lampholders which were located in Kaliningrad, Wroclaw and East Germany, ceased to be part of the company due to the changes in national borders at that time.[5]

In 1946, production of holders for fluorescent tubes was allowed to take place at a plant in Lüdenscheid. By 1962, an additional plant for lighting products had opened in Selm and the Vossloh works employed 1,300 people, with 500 more employed in subsidiaries. 1967 was a decisive turning point, because Vossloh obtained a license to produce a new tension clamp rail fastening developed by Prof. Hermann Meier, director of the Deutsche Bundesbahn.[5][6]

Recession in Germany in the 1980s resulted in the closure of two plants and employee lay-offs, reducing the staff by almost half. Management was brought in from outside the Vossloh family, and Schwabe GmbH acquired. Its lighting ballast products complemented Vossloh's lighting fittings product range and, on 1 December 1989, Vossloh-Werke GmbH became a public stock company or Aktiengesellschaft (AG). At that time there were three company divisions : Vossloh-Werke GmbH (Werdohl) (railway components e.g. tension clamps), Vossloh-Schwabe GmbH (Urbach) (electrical lighting products and components), and Hansa Metallwarengesellschaft mbH Thiessen & Hager (decorative products, sunscreen products).[5][6]

The current listed company was founded in 1990. On 13 June 1990, the shares of Vossloh AG were listed on the Düsseldorf Stock Exchange for the first time. In the 1990s, the reunification of Germany, and new markets in eastern Europe, resulted in additional demand for its rail fastening products on the former Deutsche Reichsbahn and elsewhere. Hoesch Maschinenfabrik Deutschland GmbH and W. Hegenscheidt GmbH, manufacturers of railway wheelset machining equipment, were acquired in the mid-1990s. In 1997, the company was first listed on the MDAX. In 1998, railway switch manufacturing company VAE group was acquired by Voestalpine AG and Vossloh.[5][6]

However, a recession in the 1990s resulted in the sale of the "non-recession-resilient" decorative products division to Arquati S.p.A. of Italy in 1997. Under company CEO Burkhard Schuchmann during and after the 1990s, Vossloh was re-orientated as a rail-industry-based company. In 2002, the lighting division was sold to Matsushita Electric Works, Ltd. of Osaka, Japan,[5][6][7] and the company expanded into the rail industry market with a number of acquisitions.[5]

  • 1996: Rail related parts of the Deutsche System Technik GmbH company (traffic management and electronic information systems) are acquired after insolvency, forming Vossloh System-Technik GmbH
  • 1998: The former Krupp Maschinenbau Kiel, then under Siemens' ownership as Siemens Schienenfahrzeugtechnik
  • 1998: MAN Systemelektronik acquired and added to Vossloh System-Technik GmbH
  • 2000: Vossloh and Angel Trains formed a locomotive leasing business - Locomotion Partners consisting of two companies: Locomotion capital Ltd. (90% owned by Angel trains, 10% Vossloh): a locomotive procurement, rental and management company initially headquartered in London. Locomotion Service GmbH (90% owned by Vossloh, 10% Angel trains): a locomotive servicing and modification company that would initially contract its work to Vossloh SFT in Kiel. The companies would not exclusively hire and service only Vossloh locomotives, and would act independently, depending on the circumstances.[8]] In 2004 the 10% stake in Locomotion capital Ltd. was sold and the stake in Locomotion Service GmbH increased to 100%.
  • 2001: A 55% stake in NovoSignal AB (Sweden), designers of electronic interlocking and process control systems
  • 2001: (VAE systems acquires Transwerk Perway Pty. Ltd (South Africa), railroad switch manufacturer)
  • 2002: Passenger information and entertainment systems unit of Bombardier Transportation, Germany
  • 2002: Cogifer group (France) (Division Customized Modules) is acquired, and Vossloh's share in VAE group is sold to Voestalpine The Société de Construction et d’Embranchements Industriels (SEI) was founded in 1904 in Reichshoffen, Alsace, to manufacture rail switches. Reichshoffen is still an important location today. One of the French switch plants has its headquarters here, as does the technology center of Vossloh Cogifer.
  • 2002: Kiepe Elektrik (Düsseldorf, Germany)
  • 2002: Skamo (Nowe Skalmierzyce, Poland); railroad switch manufacturer.
  • 2003: MIN Skretnice (Serbia); railroad switch manufacturer.
  • 2004: The diesel locomotive manufacturer formerly known as Meinfesa (in Valencia, Spain) was acquired from Alstom during that company's time of financial difficulties.
  • 2004: Swedish Rail Systems AB (Sweden); railroad switch manufacturer
  • 2004: Delkor Pty. (Australia); railroad switch manufacturer
  • 2004: JS Industries Private Ltd., (Hyderabad, India); 51% of shares of railroad switch manufacturer
  • 2005: Daksin Transtek Ltd. (Bangalore, India); railroad switch manufacturer - joint venture with Patil group (Patil Rail Infrastructure Pvt. Ltd, India)
  • 2005: Beekay Engineering & Castings Ltd. (India), 60% acquired by Vossloh Cogifer

At the end of 2005, Burkard Schuchmann is succeeded by Dr. Gerhard Eschenröder as CEO until 2007 when Werner Andree replaces him. The subsidiary, Vossloh Information Technologies GmbH was sold (February 2007) to Funkwerk AG. The company continued to expand; its first acquisition in North America was Pohl Corp (switch manufacturer), followed by Cleveland Track Material Inc., both acquired in 2007. A 100% stake in French rail infrastructure company (ETF) was also obtained in 2007. The same year the company opened a rail fastening subsidiary in China.[5]

In 2008, Vossloh infrastructure services is sold to the VINCI group of companies - that included the infrastructure parts of Cogifer SA, acquired in 2002, as well as Européenne de Travaux Ferroviaires SA.[5][9]

Further railroad switch manufacturers were acquired: TLK Rail (Australia) in 2007, Sportek (Denmark) and Kloos Oving B.V. (Netherlands) in 2008, and the switch and rail manufacturing parts of the Nouva Sima Sud company (Italy) in 2009.[5]

In 2010, the company enters the rail services market in Germany, forming Vossloh Rail Services GmbH from the rail maintenance parts of Stahlberg-Roensch Group, in addition to LOG Logistikgesellschaft Gleisbau mbH and ISB Instandhaltungssysteme Bahn GmbH.[5] A rail milling and grinding joint venture, Vossloh MFL Rail Milling GmbH, was formed in association with Maschinenfabrik Liezen und Giesserei in 2012.[10]

In mid 2013, Knorr-Bremse owner, Heinz Hermann Thiele, became chairman of the Vossloh board, after having raised his shareholding in the company from below 5% to over 10% in March 2011, and to over 25% in 2013. Thiele's election as chair was opposed by the Vossloh family, who owned over 30% of the shares.[11] In November 2013 the Vossloh family unexpectedly sold 22% of its shareholding, reducing their holding to under 10% and leaving Heinz Hermann Thiele as the main shareholder in the company.[12]

In 2014, the company began a restructuring. New executive board members were introduced and high level management numbers were reduced by a third, and talks started on general workforce redundancies.[13][14] The transfer of locomotive production in Kiel to a more modern site was also under investigation, with three sites identified. In June 2014 Kieler Nachrichten reported that an offer had been made for Voith's locomotive plant,[15][note 1] however in July the company announced it was to build a new plant at a cost of €30 million in the Suchsdorf area of Kiel.[19] A groundbreaking ceremony for the new plant took place 17 July 2015.[20]

In December 2014, the company announced it intended to divest its transportation division.[21][22] The rail-vehicles division was announced as sold to Stadler in late 2015.[23] The Electrical Systems division (formerly Vossloh Kiepe) was sold to Knorr-Bremse in 2016.[24]

End of 2016, Vossloh acquired Rocla Concrete Tie, Inc., headquartered in Lakewood, Colorado from Altus Capital Partners II. Since 1986 the North American company mainly supplies customers in the USA focus market with concrete thresholds. At the same time, Vossloh has purchased the remaining 50% of the shares in the previous Alpha Rail Team joint venture.[2]

Company structure

Vossloh has three divisions contribute to the core business, rail infrastructure: Core Components, Customized Modules and Lifecycle Solutions.

Vossloh currently operates with four divisions. The fourth division, Transportation, covers the developing and manufacturing of diesel locomotives, and also provides all necessary locomotive maintenance and repair services. With the adoption of the strategy at the end of 2014, the Transportation division stopped being part of the core business.

The individual companies are centrally coordinated by the holding company, Vossloh AG, and operate in common under the Vossloh brand.[25]

Core Components

The Core Components division manufactures standardized products on an industrial scale, which are required in large quantities for rail infrastructure.[25]

Vossloh's business unit Fastening Systems produces rail fastening systems and components, which are used in more than 65 countries. The screw-fastened and maintenance-free elastic systems are suitable for all applications: ballasted and slab tracks, mainline and conventional lines, high-speed lines, heavy-haul and local transport. Approx. 50 million tension clamps leave Vossloh's production sites in Europe, Asia and North America every year.[25]

The division includes Vossloh Fastening Systems GmbH (Werdohl Germany), Delkor Rail Pty. Ltd. (Australia),[26] Patil Vossloh Rail Systems Pvt. Ltd. (joint venture with Patil Group of India), Vossloh Sistemi s.r.l. (Italy), TOO "Vossloh-Kaz" (Russia), Vossloh Utenzilija d.d. (Croatia), Vossloh Skamo Sp. z o.o. (Poland), Vossloh Tehnika Feroviara S.R.L. (Romania), Vossloh Drážní Technika s.r.o. (Czech Republic), Vossloh Rail Technology Limitet Sirketi (Turkey), Feder-7 GmbH (Hungary) and Vossloh Fastening Systems America Corporation (Chicago, USA).

Vossloh's business unit Tie Technologies is manufacturing concrete railway ties in North America. In addition, six own production sites in the US and another one in Mexico also produce switch ties, concrete low-vibration track blocks and crossing panels.[25]

Customized Modules

The Customized Modules division develops and manufactures systems for rail infrastructure, which must be individually adapted to the customer and the project. Installation and maintenance are related Vossloh services.[25]

Vossloh Cogifer produces railway switch systems at over 30 production sites in over 20 countries:[25] Vossloh Nordic Switch systems AB (Sweden), KIHN (Luxembourg), Vossloh Track Material Inc. (Wilmington USA) and Cleveland Track Material Inc. (Cleveland USA) and Vossloh Cogifer Australia Pty., as well as two joint ventures Corus Cogifer Switches and Crossings,[27] (Scunthorpe, UK) and Amurrio Ferrocarril y Equipos SA (Spain).[28]

From 2012 Corus Cogifer Switches and Crossings was rebranded as VTS Track Technology Ltd. due to the acquisition of Corus by Tata Steel and of Cogifer by Vossloh.[29]

Vossloh is a majority shareholder in a joint venture with the Argentine state owned infrastructure company ADIFSE called Vossloh Cogifer Argentina SA created in 2013, with a production plant located near the city of La Plata.[30]

Amongst turnouts and crossings, Vossloh manufactures manganese frogs, switch blade, switch actuators and locking devices, signalling products and rail monitoring systems. The Vossloh offer covers all fields of application: standard, high-speed, special and heavy-haul switches, as well as solutions for urban networks.

Lifecycle Solutions

The Lifecycle Solutions division of Vossloh provides track related services. This includes welding and transportation of long rails, maintenance and preventative care of tracks and switches and reconditioning and recycling of old rails. These services also cover the lifecycle management of entire track sections.[25]

Vossloh Rail Services provides railway track infrastructure maintenance such as rail grinding, welding, replacement and testing.[25] The division was formed in 2010 with the acquisition of parts of the Stahlberg-Roensch Group and Logistikgesellschaft Gleisbau mbH and Instandhaltungssysteme Bahn GmbH from the Contrack Group.[31]

Transportation

The Transportation division produces locomotives and provides related services.[25]

Vossloh G2000 BB Diesel-hydraulic locomotive

Vossloh Locomotives GmbH, the former MaK locomotive plant in Kiel produces diesel-electric and diesel-hydraulic centre-cab locomotives, for freight and shunting purposes, which are fitted with eco-friendly technology and are approved in many European countries.[32]

This is complemented by services related to the maintenance and repair of locomotives, including variable financing models and options for maintenance agreements. ECM-compliant service centers are located in Germany, France and Italy. The pan-European service network also includes partner workshops and collaborations, in Sweden.[32]

The factory's main production up to 2009 was diesel hydraulic locomotives of type Vossloh G1000 BB, Vossloh G1206, Vossloh G1700 BB and Vossloh G2000 BB. The company's major orders included G1206/1700 variants for the French (SNCF Class BB 61000[33]) and Swiss railways (SBB Am 843[34]).

A three axle shunting locomotive, type Vossloh G6 was introduced in 2008, in 2009 the company announced to the intention to offer diesel electric or diesel hydraulic variant of four axle centre cab locomotives in two power ranges: G 12 or DE 12 and G 18 or DE 18[35] (approximately corresponding to the power ranges of the G1206 and G1700 versions.)

In 2016, Vossloh Locomotives won a major contract in France. Akiem S.A.S. ordered 44 locomotives of DE 18.[36]

In May 2020 Vossloh sold its locomotives business unit to China Railway Rolling Stock Corporation Zhuzhou Locomotive Co.[37]

Spin-offs, divestments, and subsidiaries

In 2000 Vossloh and Angel Trains formed a locomotive leasing business - Locomotion Partners consisting of two companies:

  • Locomotion capital Ltd. (90% owned by Angel trains, 10% Vossloh): a locomotive procurement, rental and management company initially headquartered in London.
  • Locomotion Service GmbH (90% owned by Vossloh, 10% Angel trains): a locomotive servicing and modification company that would initially contract its work to Vossloh SFT in Kiel.

The companies would not exclusively hire and service only Vossloh locomotives, and would act independently, depending on the circumstances.[38] In 2004 the 10% stake in Locomotion capital Ltd. was sold and the stake in Locomotion Service GmbH increased to 100%.[39]

A legal dispute between Vossloh and Alpha Trains was heard at the High Court in London concerning the difference in law between a guarantee and an indemnity. The case was determined in favour of Vossloh, the judge ruling that Vossloh's payment guarantee, which formed part of the agreement between the companies, was not payable on demand but only where there was a breach of an underlying obligation.[40][41]

Vossloh Rail Vehicles

Vossloh Rail Vehicles (formerly Vossloh España S.A.) was acquired from Alstom c.2005. The former Meinfesa plant produced diesel electric locomotives as well as passenger multiple units, trams and bogies.[42]

The company's locomotive output has included the SNCF BB 460000[43] (in cooperation with Alstom) and Vossloh Euro locomotives.

In 2010 the company launched a new locomotive type: the diesel electric Eurolight locomotive, designed for railways requiring axleloads less than 20t, and with either 2.3 or 2.8MW installed engine power.[44] In September 2012, Vossloh unveiled a mockup of the "Desert Hawk" locomotive, a single ended development of its Euro locomotive design intended for use in push-pull passenger trains in hot and sandy conditions.[45] The rail-vehicles division was announced as sold to Stadler in late 2015.[23]

Vossloh Locomotives

Vossloh Locomotives was sold to CRRC Zhuzhou Locomotive Co., Ltd., Zhuzhou, China (CRRC ZELC), a subsidiary of China Railway Rolling Stock Corporation Ltd. (CRRC) on May 31, 2020.[3]

Vossloh Kiepe

Vossloh Kiepe GmbH produces electrical systems for light rail, trolleybuses and hybrid buses including electric propulsion and control, air conditioning and heating as well as passenger rail vehicle refurbishment and modernisation.[46] The business (as Vossloh Electrical Systems) was sold in late 2016 to Knorr-Bremse.[24]

See also

Notes

  1. ^ Voith was reported as looking to sell its Kiel plant in 2013.[16] Voith decided to close the plant after an order of 130 locomotives (Voith Gravita) for Deutsche Bahn was completed, with no other orders; the plant had been established c.2005.[17][18]

References

  1. ^ a b "Annual Report 2017" (PDF). Vossloh. Retrieved 22 March 2018.
  2. ^ a b c "Annual Report 2017" (PDF). vossloh.com. Vossloh AG. 2018-03-24.
  3. ^ a b https://www.vossloh-nordic.com/se/press/press-releases/detail/pressdetail_34432.html
  4. ^ "Annual Report 2015" (PDF). vossloh.com. April 2016.
  5. ^ a b c d e f g h i j k l "Group history". vossloh.com. 2015.
  6. ^ a b c d Vossloh AG , company history via www.fundinguniverse.com
  7. ^ Vossloh to focus on transport technology, Complete disposal of Lighting division planned 10 April 2002 , www.vossloh.com
  8. ^ "Angel Trains announces the creation of Locomotion Capital in association with German group Vossloh". Vossloh. 17 April 2010. Retrieved 10 July 2017.
  9. ^ VINCI : 2008 Archived 2011-07-26 at the Wayback Machine , www.vinci.com
  10. ^ "Rail milling joint venture formed", www.railwaygazette.com, 12 April 2012
  11. ^ Sources:
    • "Investor Thiele nears 10 pct Vossloh stake", www.reuters.com, 3 April 2011
    • "AufsichtsratswahlGroßaktionär Thiele siegt bei Vossloh", www.manager-magazin.de (in German), 5 June 2013
    • "Thiele (fast) am ZielMachtkampf bei Vossloh entschieden", www.n-tv.de (in German), 5 June 2013
  12. ^ "Vossloh-Familie zieht die Notbremse", boerse.ard.de (in German), 27 November 2013, archived from the original on 3 December 2013, retrieved 29 November 2013
  13. ^ Briginshaw, David (27 June 2014), "Restructuring to plunge Vossloh into red this year", www.railjournal.com
  14. ^ Vossloh creates conditions for a sustainably successful and profitable business development (PDF) (press release), Vossloh, 27 June 2014, archived from the original (PDF) on 17 January 2015
  15. ^ Genoux, Jörn (27 June 2014), "Vossloh baut Kieler Lokwerk um", kn-online.de (in German)
  16. ^ "Kieler Lokwerk: Käufer-Suche läuft weiter", www.ndr.de (in German), 10 September 2013
  17. ^ Genoux, Jörn (18 January 2014), "Voith baut keine Loks mehr in Kiel", www.kn-online.de (in German)
  18. ^ DB German Railways rates Voith as "Outstanding" (press release), Voith
  19. ^ Hamel, Oliver (24 July 2014), "Vossloh bekennt sich zu Kiel", www.kn-online.de (in German), archived from the original on 29 July 2014
  20. ^ Barrow, Keith (20 July 2015), "Vossloh breaks ground on new locomotive plant", www.railjournal.com
  21. ^ "Vossloh to hive off 500 mln eur trains unit in overhaul", Reuters, 2 December 2014
  22. ^ "Vossloh to sell rolling stock division", www.railwaygazette.com, 2 December 2014
  23. ^ a b "Vossloh Rail Vehicles sold to Stadler", www.railwaygazette.com, 4 November 2015
  24. ^ a b "Vossloh Electrical Systems sold to Knorr-Bremse", www.railwaygazette.com, 21 Dec 2016
  25. ^ a b c d e f g h i "Group structure". vossloh.com. 2015.
  26. ^ Delkorail www.delkorail.com
  27. ^ "Corus Cogifer", www.coruscogifer.com, archived from the original on 10 December 2011
  28. ^ Vossloh annual report 2009[permanent dead link] , p.156 , www.vossloh.com
  29. ^ "VTS launches New Brand!", vtstt.com, 1 January 2012, archived from the original on 14 December 2013
  30. ^ Vossloh expands in Brazil and Argentina - Railway Gazette, 23 January 2013.
  31. ^ "Vossloh closes acquisition of rail services business" (Press release). Vossloh. 2 May 2010. Archived from the original on 24 April 2010.
  32. ^ a b "Vossloh Locomotives". vossloh.com. 2017.
  33. ^ Les BB 61000 Vossloh Archived 2010-02-19 at the Wayback Machine ferrovi-est.ifrance.com
  34. ^ Major award for Vossloh Schienenfahrzeugtechnik GmbH from the Swiss railways (SBB), 10 July 2002, www.vossloh.com
  35. ^ Vossloh position paper 2009 Archived 2010-09-21 at the Wayback Machine, pp.16-17, www.vossloh.com
  36. ^ "Akiem ordert 44 Lokomotiven. Webseite von Eurailpress". Eurailpress. 1 August 2016. Retrieved 10 July 2017.
  37. ^ 'Vossloh sells German locomtives business to China CRRC', Rail Engineer, 2020, Issue 184, page 9
  38. ^ "vossloh.com - Press - Press releases". archive.is. 2013-02-08. Archived from the original on 2013-02-08. Retrieved 2021-06-30.
  39. ^ Vossloh group history , www.vossloh.com
  40. ^ Squire Patton Boggs, A Brief Introductory Guide to the English Law of Guarantees, published July 2023, accessed 19 February 2024
  41. ^ England and Wales High Court (Chancery Division), Vossloh Aktiengesellschaft v Alpha Trains (UK) Ltd. [2010] EWHC 2443 (Ch), delivered 5 October 2010, accessed 19 February 2024
  42. ^ Vossloh Rail Vehicles www.vossloh-espana.com
  43. ^ Shunting Diesel-Electric Locomotives GA 1000 AS www.vossloh-espana.com
  44. ^ "Vossloh launches Euro Light loco.(News)". elibrary.ibtimes.com. International Railway Journal. 1 July 2010.[permanent dead link]
  45. ^ "Desert Hawk passenger locomotive mock-up on show - Railway Gazette". Railway Gazette International. Retrieved 24 September 2012.
  46. ^ Vossloh Kiepe www.vossloh-kiepe.com

External links

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