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Vossloh AG recently reached an agreement to acquire Pohl Corp. for $21 million, subject to net working capital adjustments.
If the transaction is approved by Vossloh’s board, Pohl — which supplies rails, switches, turnouts, spikes, track bolts, gauge rods and switch stands — will operate as Vossloh Track Material Inc. and continue to be based in Reading, Pa.
The acquisition will enable Vossloh to enter the North American rail supply market and expand its rail infrastructure division, the company said.
“In acquiring Pohl, we are taking a foremost position in the high-growth U.S. market,” said Vossloh Chief Executive Officer Gerhard Eschenröder in a prepared statement. “At the same time, we have taken a stride toward our declared aim of 30 percent sales outside of Europe.”
Vossloh’s rail infrastructure division supplies fastening and switch systems, and provides infrastructure services; the company’s motive power and components division builds locomotives, provides transportation systems and supplies electrical systems.
3/7/2007
Rail News: M&A
Vossloh to acquire track material supplier Pohl Corp.
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Vossloh AG recently reached an agreement to acquire Pohl Corp. for $21 million, subject to net working capital adjustments.
If the transaction is approved by Vossloh’s board, Pohl — which supplies rails, switches, turnouts, spikes, track bolts, gauge rods and switch stands — will operate as Vossloh Track Material Inc. and continue to be based in Reading, Pa.
The acquisition will enable Vossloh to enter the North American rail supply market and expand its rail infrastructure division, the company said.
“In acquiring Pohl, we are taking a foremost position in the high-growth U.S. market,” said Vossloh Chief Executive Officer Gerhard Eschenröder in a prepared statement. “At the same time, we have taken a stride toward our declared aim of 30 percent sales outside of Europe.”
Vossloh’s rail infrastructure division supplies fastening and switch systems, and provides infrastructure services; the company’s motive power and components division builds locomotives, provides transportation systems and supplies electrical systems.
