12/2/2013 11:14:00 AM
NEWS BRIEFS
Vossloh Taps Saudi Arabia For New Fastener Business
Vossloh Fastening Systems was awarded a $40.6 million contract to supply fastening systems in Saudi Arabia for a high-speed rail line extending from Mecca to Medina, Progressive Railroading reports.
The fasteners reportedly will be shipped by year’s end, and the line is slated for completion by the start in 2015.
News of the contract comes weeks after Vossloh announced an increase in its North American presence by opening a production plant for Vossloh rail fastening systems in Texas.
Production in Waco, TX, is scheduled to begin during the second half of 2014 and add 50 jobs.
With its transportation and rail infrastructure divisions, Werdohl, Germany-headquartered Vossloh has already been operating in the North American market.
Currently 64% of Vossloh sales are in Europe.
The Vossloh Group focuses on rail infrastructure, rail vehicles and electric buses. In fiscal 2012, around 5,100 employees generated sales of Euro 1.2 billion (US$2 billion).
Vossloh is located at Vosslohstr. 4, D58791 Werdohl, Germany. Tel: (49) 2392 520 Email: investor.relations@ag.vossloh.de ©2013 GlobalFastenerNews.com
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