The joint venture will hold 75% minus 2 shares in the company, while RZD will own the remaining stake. RZD is Novosibirsk's largest customer, accounting for more than 87% of the plant's annual output of around 10,000 units. Vossloh Cogifer will initially hold a 7.5% stake in the joint venture but intends to increase its share to 36.7% through technology and skills transfers.
According to Vossloh Cogifer, Novosibirsk has a share of more than 80% of the Russian switch and crossing market and reported revenues of €130m in 2012.
Following the completion of the takeover, Vossloh Cogifer and Novosibirsk will look at the possibility of diversifying production onto new areas, including light rail, high-speed, and heavy-haul pointwork.
