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voestalpine Acquires Mexican Market Leader in Turnouts

Majority holding in DAMY Cambios de Vía, S.A. de C.V.
Market entry in Mexico and increased presence in Latin America.
Now, with 37 turnout production sites, voestalpine Group underscores its position as global leader in this segment.

The voestalpine Group has expanded its globally leading position in turnout technology with an acquisition in Mexico. By acquiring a majority holding in the company DAMY Cambios de Vía, S.A. de C.V.—the Mexican market leader in turnouts and specialty trackwork components—voestalpine enters the dynamic market for railway infrastructure in Mexico, while, at the same time, increasing its presence in Latin America, where the Group has already been represented with a turnout production site in Brazil.

DAMY, located in Guadalajara, has 120 employees and achieves annual revenues of about EUR 5 million. With an experience in engineering and manufacturing of turnouts for more than 40 years, DAMY is the leading company in Mexico in this segment.

The majority interest of 51% is held by VAE Nortrak North America Inc., a subsidiary of VAE GmbH located in Vienna, Austria, and represents the final step in the intense and longtime business relations between the two companies. With the recent acquisition, VAE as the worldwide market and technology leader in turnouts and turnout systems is now globally represented with 37 production sites on all continents.

(April 18, 2008)

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