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Voith Group and PCS Holding plan takeover of Traktionssysteme Austria
Technology Group Voith and Swiss holding company PCS Holding are planning to acquire a combined 59% of the shares in Traktionssysteme Austria GmbH (TSA) with its headquarters in Wiener Neudorf.
A corresponding purchase contract was signed on April 29, 2020. TSA is the world’s leading manufacturer of electric motors, generators and transmissions for rail and road vehicles.
The closing of the transaction is anticipated to occur during the second half of 2020 and is subject to regulatory approvals and meeting other usual closing conditions. Both parties agreed not to disclose the purchase price.
“Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,” states Uwe Knotzer, Member of the Voith Corporate Board of Management and President & CEO Group Division Voith Turbo. “With the 60 years of experience of TSA, we will achieve a significant advantage for our customers in drivetrain electrification.”
“This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries,” says Oliver Streuli, CEO of PCS Holding.
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Robert Tencl. This stable and strategically oriented ownership structure will give TSA easier access to new markets, technologies and financing opportunities as an independent drive specialist.
The previous co-owner Günter Eichhübl has sold his shares and will also remain as a Managing Director of the company until June 30, 2021.
About the Voith Group
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, the company today has more than 19,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.
May 4, 2020
Technology Group Voith and Swiss holding company PCS Holding are planning to acquire a combined 59% of the shares in Traktionssysteme Austria GmbH (TSA) with its headquarters in Wiener Neudorf.
A corresponding purchase contract was signed on April 29, 2020. TSA is the world’s leading manufacturer of electric motors, generators and transmissions for rail and road vehicles.
The closing of the transaction is anticipated to occur during the second half of 2020 and is subject to regulatory approvals and meeting other usual closing conditions. Both parties agreed not to disclose the purchase price.
“Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,” states Uwe Knotzer, Member of the Voith Corporate Board of Management and President & CEO Group Division Voith Turbo. “With the 60 years of experience of TSA, we will achieve a significant advantage for our customers in drivetrain electrification.”
“This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries,” says Oliver Streuli, CEO of PCS Holding.
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Robert Tencl. This stable and strategically oriented ownership structure will give TSA easier access to new markets, technologies and financing opportunities as an independent drive specialist.
The previous co-owner Günter Eichhübl has sold his shares and will also remain as a Managing Director of the company until June 30, 2021.
About the Voith Group
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, the company today has more than 19,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.
May 4, 2020