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Germany: Rail technology giant Vossloh denies merger rumors

 |  December 1, 2013

The head of Germany’s largest rail technology firm Vossloh is denying rumors that the company plans to go private or sell itself with to its own commercial brake company Korr Bremse, say reports.

The remarks, made by chairman Heinz Hermann Thiele, clarified that the company is seeking out possible partners for the launch of Vossloh’s diesel locomotive operations. Such a joint venture would launch by next year, Thiele said.

Rumors had also circulated that Vossloh was planning to sell Knorr Bremse to Germany’s ZF Friedrichshafen, but Vossloh described that suggestion as “insulting.”

Full Content: Reuters

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