Following the signing of a long-term framework supply agreement for concrete ties in April, Vossloh announces the execution of a second multi-year framework agreement for the delivery of special trackwork (turnouts) in its focus market North America with CN. CN is one of the North American Class I railroad operators serving both the US and Canada.
The realization of the framework contract for the delivery of concrete ties is with Vossloh’s business unit Tie Technologies (Division Core Components), which was acquired beginning of 2017. A new production site in Western Canada will be constructed for the ties to be delivered. “By having direct access to CN with a facility connected to the rail network, we offer logistical advantages and open up future opportunities to grow for us”, Andreas Busemann, Vossloh’s Chief Executive Officer, says.
The framework agreement for special trackwork (turnouts) has been concluded by the Customized Modules division, achieving the establishment of a long-term business relationship also with another Class I customer. For this purpose the capacity in one of Vossloh’s existing locations will be expanded in order to react quickly on the customer’s needs.
“With these agreements we succeeded to establish a new long-term relationship with a strategically important and trusted partner”, Andreas Busemann states. “This is a significant step to strengthen Vossloh’s position in our focus market sustainably and supports the expected upswing of our business in North America.”
Werdohl, July 3, 2018
Contact information for media:
Dr. Thomas Triska
Phone: +49 (0) 2392 52-608
Contact information for investors:
Dr. Daniel Gavranovic
Phone: +49 (0) 2392 52-609
Vossloh is active in rail technology markets worldwide. The Company’s core business is rail infrastructure. The Group activities are organized into the three divisions of Core Components, Customized Modules and Lifecycle Solutions. In the 2017 fiscal year, Vossloh achieved sales of about €920 million with over 3,900 employees.