Siemens Mobility to acquire RailTerm to bolster presence in Canada
Siemens Mobility said that it is acquiring Canadian transportation company RailTerm for an undisclosed price in a move to consolidate its presence in Canada.
RailTerm caters to railroads and transit agencies with rail operation services such as dispatching, maintenance of tracks and signals, and also intermodal terminal management.
With RailTerm’s experience and knowledge across the entire rail spectrum in Canada, Siemens Mobility can further grow its portfolio by adding on-the-ground track and signaling, electrification, and communication systems.
Michael Peter – CEO of Siemens Mobility said: “The acquisition of RailTerm strengthens our overall Rail Infrastructure business in North America and further establishes our footprint and customer base in Canada, a market we believe has immense potential.
“Through our world-class proven expertise in technology, digitalization, and innovation, we believe we can offer real value for customers in Canada by providing them with cost-effective, sustainable and reliable transport solutions that will assist Canadian cities in modernizing and expanding their transportation infrastructure.”
Siemens Mobility to acquire RailTerm to strengthen its presence in Canada. Photo courtesy of Siemens.
RailTerm is said to have 70 plus clients across the world. The Canadian transportation company is also expected to considerably boost Siemens Mobility’s ability to spread out its in-depth knowledge and technologies across Canada’s huge and expanding rail networks, apart from gaining key customers.
For over 40 years, Siemens Mobility has been providing solutions to the Canadian transportation industry, which includes light rail vehicles in Calgary and Edmonton, electrifying the Kitchener-Waterloo light rail system and signaling and train control for Ottawa’s Trillium line. Additionally, the company has been delivering modern trainsets to VIA Rail.
The acquisition of RailTerm, which is anticipated to close by 1 July 2021, will increase the number of employees of Siemens Mobility Canada by approximately 200.