Located near Brescia in northern Italy, Rifer has an annual turnover of €10m and employs more than 60 people. This compares with CAF Miira’s annual turnover of around €120m per annum. CAF has also acquired a minority stake in Cosmef WM, part of the Rifer Group, which carries out heavy maintenance on rail vehicles.

CAF says these acquisitions will strengthen its position in the Italian, Central European and the wheelset and rail vehicle maintenance markets, and allow it to offer integrated services beyond the supply of products.