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| 2006-1-9 |
 Faiveley Transport signs an agreement for ...... |
Faiveley Transport, a company controlled by Faiveley SA and Sagard, has signed an agreement with Neu SA (subsidiary of the S.F.P.I. Group), for the acquisition of 99.99% of the shares of the French company, Neu Systèmes Ferroviaires. The transaction should be fully completed for the 1st March 2006.
Neu Systèmes Ferroviaires designs and manufactures air conditioning, heating and ventilation equipment for the railway industry. Its systems are mainly used in driver cabins and passenger saloons on metros, locomotives, intercity trains and tramway vehicles.
The company’s turnover for 2005 is €10.6 million. It employs 60 people on 2 different sites near Lille in France.
This acquisition will enable Faiveley Transport to reinforce its position as leader on the air conditioning market, as there are strong complementarities between the companies’ activities and will positively contribute to the Group’s operational margin.
Both companies should generate strong synergies in sales, purchasing and the development of new products. Neu Systèmes Ferroviaires, a company that has recently signed contracts in Poland, Switzerland and Belgium, will particularly benefit from Faiveley Transport’s global presence.
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