Knorr-Bremse completes acquisition of Kiepe
January 31, 2017 [Knorr-Bremse Group]
Knorr-Bremse AG and Vossloh AG today announced successful completion of the acquisition of the Electrical Systems business unit (Vossloh Kiepe) by Knorr-Bremse.
Kiepe on board: Light rail vehicle Citylink NET 2012, Karlsruhe, Germany | © VBK
“With the acquisition of Vossloh Kiepe we are taking the logical next step in the successful development of our business,” says Klaus Deller, Chairman of the Executive Board of Knorr-Bremse AG and responsible for the Rail Vehicle Systems division. “The main benefits for our customers will be the technological advantages generated by greater sub-system connectivity,” Deller continued. “This acquisition will lead to the expansion of not only our rail vehicle systems portfolio but also our commercial vehicle systems offering. Given the increasing levels of electrification in the commercial vehicle sector, as a systems supplier for electric buses Vossloh Kiepe opens up new growth opportunities and potential applications in this segment.”
Knorr-Bremse and Vossloh had signed an agreement governing the acquisition in December 2016. This agreement was subject to a number of provisos, in particular antitrust clearance, which have now all been met. Kiepe is a globally active supplier of electrical traction equipment. Its customer base includes the world’s leading rail vehicle and bus manufacturers. The company offers efficient solutions and ecologically sustainable concepts for lowemission public transportation. Along with eco-friendly drive technology for light rail vehicles, metros and regional rail networks, as well as for battery, hybrid, hydrogen, trolley and In-Motion-Charging (IMC) buses, Vossloh Kiepe also specializes in the modernization of rail vehicles. The company offers its products and services to mass transit authorities, state and private railroad operators, and their supplier industry.