Vossloh says Vossloh Rail Vehicles' activities have been classed as "discontinued operations" since September 30 because talks with interested parties have made rapid progress and it is "very likely" that a sale will take place within the next few months.

Based at Albuixech near Valencia in Spain, Vossloh Rail Vehicles designs and manufactures LRVs, metro trains and locomotives for both the domestic and international markets. The plant is Iris and ISO 9001 certified and has capacity to assemble up to 150 vehicles per year.

Vossloh says group sales (excluding Rail Vehicles) reached €867.9m in the first three quarters of this year, compared with €819m in the corresponding period in 2014. The increase is attributed to a significant rise in sales of switches and crossings and 35.4% growth in sales in the Transportation unit.

Ebit adjusted for one-off items reached €29.3m, compared with €15.3m in the first three quarters of 2014, while Ebit margin rose from 1.9% to 3.4%. Orders received (under the new reporting structure) fell from €857.7m to €803m, although the order backlog remained relatively stable, declining slightly from €1.16bn to €1bn.