Russia: As stated in the press release, the transaction resulted in Concern Tractor Plants becoming the main shareholder of the plant. In June, the concern assumed control of another TMH’s asset, the steel works in Bezhitsa.
TMH has announced the sale of its assets as a means of enabling the company to concentrate on the development and production of complex railway machinery, while putting the expansion of casting and freight car production under the management of professionals in the field.
The plant in Engels specialises in the construction of flatcars, ballast wagons and snow clearing trains. In 2023, the plant produced 1,500 cars, representing a 25.6% increase on the previous year. This allowed it to occupy 2.3% of the Russian freight car market, according to ROLLINGSTOCK analysts.
Concern Tractor Plants forms part of the Kanash Car-building Plant, which produces gondola cars, hoppers, and flatcars. In 2023, the company was ranked sixth in the car-building market with a 7.5% share and with an output of 4,800 freight cars, representing a 42.1% increase compared to 2022.
