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Skoda Group acquires assets of a bankrupt Molinari Rail in Austria

12 February 2023
Reading time ~ 2 min
Molinari Rail office in Schwaz, Austria
Molinari Rail office in Schwaz, Austria. Source: Google
Ivolgina Anna, Editorial Contributor to International Projects, ROLLINGSTOCK Agency
Reading time ~ 2 min
Stolchnev Alexey, Russian Projects Editor, ROLLINGSTOCK Agency

Austria: The Czech manufacturer established a subsidiary company in the country, which incorporated headquarters in Vienna and an office in Schwaz purchased from Molinari Rail as well as 40 designers. Skoda Group says that with this acquisition it is significantly strengthening its position in the field of technical engineering and design within the strategy to expand into Western European markets.

The new subsidiary will have considerable autonomy in terms of its business and will work on its own projects while also participating in the activities of the company. Meanwhile, the company didn’t have any supply experience of its rolling stock to Austria lately. The only local project, which ROLLINGSTOCK managed to find, is a refurbishment of 9 trains in cooperation with Inekon for Salzburg’s railway in 2012-2014.

Last November Molinari Rail, which specialises in rolling stock and its components design as well as its certification, launch, maintenance and overhaul, declared itself insolvent. At that moment its debt obligations accounted for €14.6 mln. The company’s managing director Martin Zsifkovits named a number of reasons for the company’s bankruptcy: the coronavirus pandemic, crisis connected with the Ukrainian conflict, supply chains challenges, materials and spare parts prices growth. However, the key factor was the loss of a contract worth €40 mln due to the partner company’s affiliation with a Russian rail rolling stock manufacturer (meanwhile, its name wasn’t disclosed).

Likewise, it was reported last December that there were negotiations on the sale of the Molinari Rail’s plant in Dessau, Germany, which specialised in locomotive-hauled coaches, multiple units and trams manufacturing and repair. Bankruptcy trustee Susanna Brener said that there were 100 people working at the plant and they would get paid by the end of January, whereas it is scheduled to open insolvency proceedings early in February.

Skoda Group opened its regional office in Florence, Italy last year as well. Olesea Lachi, who, for a long time, had been in charge for the company’s rolling stock sales, was appointed its managing director. Skoda Group says that the opening of the subsidiary will enable the company to work more actively on supplies of rolling stock to Italy, including trams.