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MAJORITY SHAREHOLDING OF TRANSTECH TRANSFERRED TO ŠKODA TRANSPORTATION

04.08.2015

On 4 August 2015, the Finnish shareholders of Transtech Ltd and Škoda Transportation Group closed the contract on the sales of the majority shareholding in Transtech Ltd to Škoda Transportation Group from the Czech Republic. The transaction ensures the financial, R&D and internationalisation resources needed for the growth of Transtech Ltd. The Finnish company Sinituote Oy continues to be an important minority shareholder in the company, as required by Škoda. Transtech’s company name will remain unchanged.

“Škoda Transportation has been extremely successful over the last couple of years, particularly in export markets. Our main long-term plan is to strengthen the company’s position in Western Europe in particular. The acquisition of the Finnish company Transtech is one of the steps that will take us towards our goal,” says Tomáš Krsek, Chairman of the Board of Škoda Transportation.

“Thanks to this corporate acquisition, Škoda Transportation will be the key player in the Finnish rolling stock market. The fact that this acquisition also significantly strengthens Škoda’s business position in Scandinavia is equally important,” says Vice President, Sales, Zdeněk Majer of Škoda Transportation.

“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 member of the Board of Directors Leif Ekström, of Transtech.
Further information on Tuesday 4 August 2015 from 1 p.m. to 3 p.m. in Helsinki, Finland:
- Chairman of the Board of Directors Zdeněk Majer
- Member of the Board of Directors Leif Ekström
   Tel. +358 50 5500 358, leif.ekstrom@transtech.fi
- Director, Marketing Lubomíra Černá
   Tel. +420 737 281 550,lubomira.cerna@skoda.cz

Transtech Ltd is a Finnish railway vehicle supplier and manufacturer of engineering products. The company is located in Oulu and Otanmäki, Finland. The company’s turnover for 2014 was €95 million, and the company employs approximately 530 people in Oulu and Otanmäki. (www.transtech.fi)

Škoda Transportation is a leading European supplier of transport technology. Its product range covers low-floor trams, electric locomotives, city trains, metro trains and trolleybuses, in addition to which the company also provides traction motors and complete stations for transport systems. Škoda Transportation has several subsidiaries in the Czech Republic, including Škoda Electric, Škoda Vagonka and Pars nova, as well as subsidiaries in Germany, Poland, Hungary and Russia. The company employs approximately 5,000 people in the Czech Republic. Thanks to its active investments in R&D, Škoda Transportation regularly launches modern products, which have gained an important position in export markets. The company has invested over CZK 3 billion in R&D over the last three years. (www.skoda.cz)