10/30/2014 11:53:00 AM
NEWS BRIEFS
Vossloh Fastener Orders Rise on Chinese Demand
Vossloh Fastening Systems revenue declined 8% to €93.5 million in the third quarter of 2014. Q3 orders jumped 80% to €82 million, boosted by an August deal to supply fasteners for the new Chinese high-speed network.
In the first nine months of 2014, Fastening Systems revenues fell 15% to €248.5 million, while orders rose 26% to €238.7 million. Order backlog totaled €156.6 million, compared to €182.1 million as of the prior year.
Vossloh is increasing its North American presence by opening a production plant for Vossloh rail fastening systems in Waco, TX. By manufacturing within the U.S., Vossloh aims to meet Buy American requirements for government contracts. Production in Waco is expected to add 50 jobs.
For more than 100 years, Vossloh Fastening Systems has manufactured rail fastening systems which are now used in 65 countries.
The U.S. Fastening System division is based at 233 S. Wacker Dr., Chicago, IL 60606. Tel: 312 376-3201 Web: vossloh-usa.com
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