Finnish manufacturer Transtech changes its name to Škoda Transtech. It is a subsidiary of Czech Škoda Transportation owned by PPF Group. The changes comes after Škoda bought the remaining quarter of shares in May. It owns the entire company now.
“The longterm goal of Škoda Transportation group is to consolidate its position on West European markets. It is also the goal of the new owner, PPF investment group,” CEO Petr Brzezina said. Škoda Transtech keeps its headquarters in Oulu. The production plant is located in Otanmäki, sales and technical services are located in Helsinki.
Škoda Transtech currently produce trams for Helsinki and Tampere. We also produce double-deck passenger cars for Finnish Railways. The company will also contribute to delivery of trams for Rhein-Neckar-Vehrkehr (rnv) in Germany, or Ostrava in Czechia.
Transtech was founded in 1985. Škoda Transportation acquired the company in 2015. The remaining quarter of shares were bought from the previous owned, Sinituote Oy, in May 2018. Škoda emphasizes that it consolidated the company in last three years and helped to bring new contracts. Number of employees increased to 650 from 500, the annual earnings exceed 3 billion CZK (116,3 million EUR).
Czech version is available at Zdopravy.cz.