Voith and PCS Holding signed an agreement to acquire Traktionssysteme Austria (TSA). The German company, together with the Swiss holding, are planning to take over a combined 59% of the shares in Traktionssysteme Austria GmbH with its headquarters in Wiener Neudorf. A corresponding purchase contract was signed on April 29, 2020.
The closing of the transaction is subject to regulatory approvals and meeting other usual closing conditions. Both parties agreed not to disclose the purchase price.
TSA Targets Electric Bus Market
The Austrian company TSA, based in Wiener Neudorf, is behind the technology that powers metro trains and trams in Vienna as well as rail vehicles in around 60 countries worldwide. Electric bus and commercial vehicles are the new target of the group, which already powers, for instance, Hess trolleybuses and Solaris battery-electric buses (TSA central motor is one of the options). Earlier this year, TSA announced it is launching two new drive motors developed for battery-electric buses within a new ‘Road’ division.
Voith, PCS, TSA: Acquisition to be Completed within 2020
After completion of the transaction, TSA will be owned by the Voith Group, PCS Holding, the previous, longstanding shareholder Duswald GmbH and the Managing Director of TSA, Robert Tencl, the Austrian company points out.
This stable and strategically oriented ownership structure will give TSA easier access to new markets, technologies and financing opportunities as an independent drive specialist. The previous co-owner Günter Eichhübl has sold his shares and will also remain as a Managing Director of the company until June 30, 2021.
Voith and PCS Stronger with TSA
"Voith is the technology leader in drive technology in many industries. The portfolio and market position of TSA are an excellent addition to our drive solutions in the rail and commercial vehicles sector and supports our position as a technology-independent supplier of drive systems," states Uwe Knotzer, Member of the Voith Corporate Board of Management and President & CEO Group Division Voith Turbo. "With the 60 years of experience of TSA, we will achieve a significant advantage for our customers in drivetrain electrification."
This transaction will enable PCS Holding to secure top technology in the field of electric drive technology for its strategic investments in the long term. In addition, we expect the cooperation with Voith to provide decisive impulses for the development of new market potentials, especially in the road segment. PCS Holding considers TSA to be in an excellent position to benefit from the general trend towards electrification of drive technology in various industries» says Oliver Streuli, CEO of PCS Holding.