Press

Škoda Transportation acquired the remaining 25 percent stake in Finnish train builder Transtech on 21 May 2018 after having purchased a 75 percent stake in Transtech in August 2015. Škoda says its long-term objective is to consolidate its position in the Western European rail market. “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,” says Škoda Transportation’s chairman and CEO Petr Brzezina. “In less than three years, we have managed to successfully restructure and stabilise Transtech,” adds Zdeněk Majer, vice-president of Škoda Transportation Group and chairman of Transtech. “We have received new orders and are currently delivering trams from Transtech to Helsinki and Tampere. We are also supplying new cars to Finnish Railways. During this period, we have increased the number of employees from 500 to 750. The company’s annual sales reached CZK 3 billion.”