Faiveley Transport, a company controlled by Faiveley SA and Sagard, confirms today that it has completed the acquisition of 100% of Ellcon-National equity shares, a US based railway brake specialist.

 

Ellcon-National, founded in 1910, is based in Greenville, South Carolina and employs around 300 people. In 2007, it had annual sales of around US $ 58 million (€36.9 million). The company produces a wide range of products for freight wagons such as brakes and loading devices, together with equipment for passenger rail cars including stainless steel doors and windows for intercity and light rail vehicles.

 

This acquisition is strategically important for Faiveley Transport and its customers. ‘Ellcon-National is the perfect strategic match for Faiveley Transport; the combination of both activities will allow us to improve our offer in both the US and the railway freight market, areas where, up until now, we have had a limited presence’, states Robert Joyeux, CEO of Faiveley Transport. Furthermore, the US railway market is dominated by freight and is  valued at US $ 10 billion for 2008-2018.

 

By joining the Faiveley Transport Group, Ellcon-National will be able to take a step forward in their international development: ‘Working with Faiveley Transport’s teams, renowned for their technical expertise and global presence, will enable us to reach new worldwide markets’, confirmed Emil Kondra, Chairman & CEO of Ellcon-National.