Škoda Transportation Group has purchased a controlling stake in the Finnish company TransTech, the largest manufacturer of rail vehicles in Finland.
TransTech main products include double-deck electric cars, trams and engineering products. The company employs approximately 500 people and has an annual turnover of more than 2.5 billion CZK. Its key contract is the supply of double-deck coaches for Finnish State Railways (VR Group). The company also has a framework agreement for the supply of 100% low-floor trams for Helsinki City Transport (HKL).
“With this acquisition is Škoda Transportation becoming a key player in the field of railway and urban rail vehicles on the Finnish market. Equally significant is the fact that this trade significantly improves the starting position of Škoda business development all throughout Scandinavia,” says Zdeněk Majer, vice president for sales at Škoda.