BIZ: Acquisition TECH: eDrive-BEV/HEV: Voith to buy shares in TSA

摘要

Germany/Switzerland/Austria - Voith GmbH & Co. KGaA of Heidenheim, Germany, and Swiss investment holding company, PCS Holding AG of Frauenfeld, have announced an agreement has been signed (April 29, 2020) to acquire a combined 59% of the shares in Traktionssysteme Austria GmbH (TSA) - a manufacturer of electric motors, generators and transmissions for rail and road vehicles based in Wiener Neudorf, Austria. Commenting on the proposed transaction, Dr Uwe Knotzer, Member of the Voith Corporate Board of Management and president & CEO Group Division Voith Turbo said: "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. With the 60 years of experience of TSA, we will achieve a significant advantage for our customers in drivetrain electrification."