Knorr-Bremse says the divestiture of Sydac is part of a realignment of its portfolio in rail vehicle systems and reflects its focus on connected onboard railway subsystems and related services.
The agreement between Knorr-Bremse and Oktal includes the full takeover of Sydac in Australia, its British subsidiary and its Indian subsidiary Sydac Simulation Technologies India. Oktal will also take over the driver simulator business from TDS (Train Dynamic systems), a unit of New York Air Brake.
Sydac was purchased by Knorr-Bremse in 2009 and has since been a wholly-owned subsidiary of Knorr-Bremse Australia, with around 100 employees.
“Under the strategic ownership of Oktal, Sydac can concentrate fully on the business and make better use of market opportunities,” Knorr-Bremse says. “This move will enable the Sydac business to remain competitive in the long-term.”
“We are continuing to focus on our core competencies as a key supplier for the railway industry - offering subsystems and components and related services,” says Mr Klaus Deller, chairman of the executive board of Knorr-Bremse responsible for the rail vehicle systems division. “Knorr-Bremse is therefore carrying out a strategic realignment and has decided to divest its holding in Sydac.”