Germany-based rail technology company Vossloh has completed the sale of its locomotive business to Chinese rolling stock manufacturer CRRC Zhuzhou Locomotive.
The deal came in effect on 31 May.
In April, German competition regulator Bundeskartellamt approved the acquisition of Vossloh Locomotives by CRRC Zhuzhou Locomotive.
In August 2019, Vossloh announced its decision to sell its locomotives business to CRRC Zhuzhou Locomotive.
Vossloh CEO Oliver Schuster said: “The sale of our Kiel-based locomotive business is an extremely important milestone in Vossloh’s strategic development. It marks the end of a fundamental realignment of our company over several years.
“From now on, Vossloh’s focus will be entirely on rail infrastructure products and services. I am delighted that in CRRC ZELC we have found a strong, reliable and above all long-term buyer for our former Locomotives unit.
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“We are convinced that the future prospects of Locomotives will improve significantly with CRRC ZELC as the new owner.”
Based in Kiel, Vossloh Locomotives specialises in manufacturing diesel and dual-mode locomotives for light mainline and shunting duties.
The decision to sell the locomotives business unit is part of the company’s strategy to focus on rail infrastructure. It sold its rail vehicles and electrical systems units in 2015 and 2017.
Founded in 1936, CRRC ZELC is a subsidiary of CRRC, the world’s largest rail vehicles manufacturer.
The locomotive business acquisition marks the Chinese group’s entry into the European rolling stock supply sector.