Finnish Transtech seeks growth with a new owner
Transtech, Finnish railway vehicle supplier and manufacturer of engineering products, have sold its majority shareholding to Škoda Transportation Group from the Czech Republic.
According to Transtech, the transaction ensures its financial, R&D and internationalisation resources needed for the growth.
“We are happy to have Škoda Transportation Group as our new majority shareholder, especially because the company already has an extensive product portfolio that supports us in our development and innovation work,” says Leif Ekström, member of the Board of Directors in Transtech.
The Finnish company Sinituote continues to be an important minority shareholder in the company, as required by Škoda. Transtech’s company name will remain unchanged.