ULTIMATE Europe, a supplier of automatic door systems and gangways, has acquired a majority stake in its Turkish and Romanian supplier partners.
The Austrian company has acquired majority stake Turkey-based AFS-Teknic and Romania-based O.D. Tehnic for an undisclosed amount.
The companies have adapted their names to accommodate the new majority relationships
AFS-Teknic will be named ULTIMATE Taşimacilik Ekipmanlari (ULTIMATE Turkey) and the Romanian firm will be called ULTIMATE Transportation Equipment (ULTIMATE Romania).
ULTIMATE Europe expects the deal to aid it in meeting the Turkish and Romanian market requirements, as well as metal manufacturing demands in Europe.
Based in Amstetten in Lower Austria, ULTIMATE employs around 1800 employees in its locations at Austria, Turkey, Brazil, USA, China and Australia.
It develops and sells products for rail vehicles such as transitions, automatic door systems, and interior fittings. Its products adhere to the International Railway Industry Standard (IRIS) and International Organization for Standardization (ISO) vehicle standards.
The company caters to the Original Equipment Manufacturer (OEM) and Refurbishment customers.
ULTIMATE Europe CEO Ing. Manfred Teufl said: “With the qualified majority ownership, we are able to increase our focus on the European business and are taking a further step towards local manufacturing.
“We can now meet the future requirements of the European market much more flexibly and with greater customer-orientation, and are convinced that this will bring considerable added value for many European users of public transport facilities in the rail sector.”