Austrian Voestalpine takes over majority stake in Romanian company Travertec Buzau

Newsroom 06/08/2018 | 10:31

The Austrian group Voestalpine bought the majority stake in Travertec Buzau, a subsidiary of German Rail.One, with a turnover of almost RON 10 million last year.

Following the transaction, Voestalpine will control 60 percent of the shares and Rail.One will remain with a 40 percent stake. The deal was completed through Buzau’s Voestalpine company, Apcarom, a rolling stock manufacturer.

Travertec has been operating since 2001, with about 30 employees last year with a turnover of RON 9.4 million and a net profit of RON 478,370.

The former majority shareholder the German company Rail One, the manufacturer of concrete sleepers and railway systems for rail and ship traffic as well as urban transit applications.

Headquartered in Neurmarkt, the company, founded in 1954, has factories in Germany, Romania, Saudi Arabia, Spain, South Korea, India, Turkey, Hungary and the United States.

At the end of last year, Voestalpine took over painting division of Barum Technik in Timisoara. Last year, globally, the Austrian group had revenues of EUR 13 billion and a EUR 2 million EBITDA, with about 51,600 employees in 50 countries.

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