Škoda Transportation Group signed an agreement to purchase the remaining shares in Transtech on May 21. With the purchase of the 25% stake from Sinituote Oy, Škoda becomes the 100% owner of the Finnish rolling stock manufacturer.
FINLAND: Finnish rolling stock manufacturer Transtech has sold a 25% stake to Skoda Transportation Group for an undisclosed sum.
Skoda acquired a majority stake in Transtech in 2015, while the latest acquisition increases its total stake in Transtech to 100%. The transaction was closed during Czech Prime Minister Andrej Babis’s visit to Finland.
Founded in 1985, Transtech manufactures low-floor trams, double-deck carriages, electrical units and vehicle transport carriages. Transtech is currently involved in the production and delivery of trams to Helsinki City Transport and the City of Tampere, as well as railcars to Finnish Railways. The acquisition will provide Skoda Transportation new opportunities in Western European markets.
In 2015 Škoda Transportation Group acquired 75% of Transtech from investment company Pritech Oy. Since then Transtech has increased its workforce from 530 to 750. ‘The long-term intention of the Škoda Group is to consolidate its position in the markets of western Europe’, said Škoda Transportation CEO Petr Brzezina. ‘This is also the intention of the new owner, the international investment group PPF, under whose leadership we have succeeded in finalising the acquisition of Transtech.’
Established in 1985, Transtech was owned by Patentes Talgo from June 1999 until March 2007 when it was sold to a group of Finnish investors. It produces double-deck coaches and car-carrying wagons for Finnish national operator VR, and it has a framework agreement to supply winterised trams to Helsinki and Tampere.