Voith has signed a deal to acquire Czech Republic-based IGW Rail, which specializes in manufacturing gear units for rail vehicles.

The financial terms of the deal were not disclosed.

IGW Rail is currently part of the BMT Group, which is based in Belgium.

Through the acquisition, Voith hopes to become one of the largest independent manufacturers of rail vehicle gear units and transmissions in the world.

IGW Rail caters to the rail vehicle industry with its customized gear unit and coupling solutions. Its products, which are said to cover all types of rail vehicles, including trams, subways, high-speed trains, heavy locomotives, and light rail.

Cornelius Weizmann — Voith Turbo President and CEO said: “As Voith also supplies a wide range of components for these rail vehicle markets, IGW perfectly complements the Voith portfolio.

“Sustainable drive solutions have been part of the DNA of both companies for decades. Together, we aim to push the worldwide development of innovative gear unit system solutions for all rail vehicle manufacturers.”

IGW Rail operates four production plants in Brno in Czech Republic, Zanesville in the US, Pune in India, and Suzhou in China. The rail gearboxes manufacturer has a workforce of nearly 500 employees around the world.

In the past 25 years, IGW Rail is claimed to have delivered over 100,000 gear units and couplings around the world.

Rudy Thoma — IGW Rail CEO said: “These components, that are well established on the market, need to be regularly overhauled and supplied with spare parts.

“In the future, we will be able to provide even better customer service thanks to Voith’s 24/7 service solutions.”

The transaction, which is subject to regulatory approvals and other conditions, is likely to close in early Q4 2022.

  Belgium, BMT Group, Cornelius Weizmann, Czech Republic, IGW Rail, Rudy Thoma, Voith