TSA produces electric motors, generators and transmissions for rail and road vehicles. The acquisition will allow both Voith and PCS Holding to expand their technical portfolio and benefit from the trend towards electrification and electric traction. Mr Peter Spuhler is the president of both PCS Holding and Stadler, in which PCS Holding has a stake.
The consortium expects to close the deal during the second half of 2020 subject to regulatory approval. TSA will then be owned by Voith, PCS Holding, Duswald - the previous longstanding TSA shareholder - and Mr Robert Tencl, TSA’s managing director. The previous co-owner of TSA, Dr Günter Eichhübl, has sold his shares but will continue as a managing director of TSA until June 30 2021.
“The portfolio and market position of TSA is an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems,” says Dr Uwe Knotzer, member of Voith’s management board and president and CEO of Voith Turbo.
“This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term,” says Mr Oliver Streuli, CEO of PCS Holding. “In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment.”
TSA has been manufacturing traction drives for 60 years at the former Brown Boveri plant in Wiener Neudorf. TSA employs 380 people in Austria and has a further 390 employees at locations in Bosnia-Herzegovina, the United States and China, and through a joint venture in India.