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EuroMaint sells its shares in German subsidiary

Euromaint has signed an agreement to sell all its shares in the German subsidiary to Iberia Industry Capital Group Sarl. Euromaint’s German operation has experienced difficulties for several years and has a negative earnings trend in 2015 due to project delays and low volumes.

”I´m convinced that Iberia Industry Capital Group Sarl will develop the German operation in the best possible way. The disposal enables us to focus on our core Swedish operation”, says Ove Bergkvist, CEO of Euromaint Rail.

The transaction is subject to terms and conditions for financing and the completion of the sale is scheduled for Q1 2016.

Euromaint offers qualified technical maintenance to meet customer requirements for well-functioning rolling stock fleets. The company’s products and services guarantee the reliability and service life of track-mounted vehicles such as freight carriages, passenger trains, locomotives and work machines.

Between January and September 2015, turnover for the Swedish operations amounted to SEK 1,215m and EBITA to SEK 65m. The number of employees amounts to approximately 1,200 individuals who work at several locations throughout Sweden.

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