28 Sep 2023 09:53

Transcomponent acquires Knorr-Bremse train braking systems business in Russia

MOSCOW. Sept 28 (Interfax) - Transport Component Holding (Transcomponent) has acquired the Russian railway braking systems business of German braking systems manufacturer Knorr-Bremse AG.

Transcomponent acquired 100% of Knorr-Bremse Rail Systems CIS Holding LLC and 60% of Knorr-Bremse 1520 LLC (with the first company's stake in the second, also 100%) on September 26, data from the Unified State Register of Legal Entities showed.

Knorr-Bremse makes braking systems for all types of rail transport and has manufacturing facilities in 30 countries. The company began supplying braking systems for passenger cars in the USSR in the 1960s, and since 2006 the company has developed and rolled out braking systems in Russia with Russian Railways (RZD) . RZD and Knorr-Bremse signed a letter of intent in 2008 to form a joint venture in Russia to manufacture braking systems.

In 2014, the German company founded Knorr-Bremse Rail Systems CIS Holding and Knorr-Bremse 1520, a 60/40 joint venture with Federal Freight Company. Federal Freight's 40% stake in the venture was subsequently acquired by Knorr-Bremse Rail Systems CIS. The company's manufacturing facilities are located in Leningrad Region.

Transcomponent is one of Russia's largest transport engineering manufacturing and service groups, with over 50 companies in Russia, Kazakhstan, Hungary and Latvia, the group's website said.

The USRLE shows that Transcomponent is 20% owned by Violan LLC, the beneficiary of which is businessman Iskander Makhmudov; 20% by Elarium LLC, which is owned by Andrei Bokarev, who was president of train maker Transmashholding until April 22, 2022; 24.99% by Dmitry Komissarov's Postulat LLC; and 25% by New Solutions LLC, which is controlled by Transmashholding president Kirill Lipa.