Faiveley Transport Acquires Shares in NOWE Streugeräte
Faiveley Transport, a company controlled by Faiveley and Sagard, today acquired 75% of the shares of NOWE Streugeräte, a sanding systems’ company based in Hannover, Germany, on 2nd January 2008, in order to complete its integrated offering in brake and sanding systems. Mr Bartling, current co-managing director, will retain the remaining 25%.
NOWE Streugeräte specialises in the development and design of sanding systems. Recognised as the most innovative supplier in this niche market (market potential of €25 million) they offer both customised and full service packages with a workforce of 17 and net sales of €3 million.
This acquisition will enable Faiveley Transport to provide a complete offering of innovative brake systems to customers in a market where operators are increasingly interested in procuring an overall package including sanding, an area becoming more important due to safety reasons. It will also allow Faiveley to further penetrate the German market.
NOWE Streugeräte will particularly benefit from Faiveley’s international presence, which will help it to conquer new markets.