29 July 2008 17:53 [Source: ICIS news]
The acquisition, subject to approval by ?xml:namespace>
Graaff, based at Elze in northwestern
It had superior engineering design expertise in chemical tank cars where it held many regulatory approvals, VTG said.
“Although we will utilise a good part of Graaff’s production capacity ourselves, we also intend to supply existing and new customers in future,” said Jurgen Hullen, VTG’s director of engineering and procurement.
“However, we are not planning to manufacture all the rail freight cars we need ourselves,” he added.
Graaff had to file for insolvency earlier this year after experiencing difficulties in handling a large order and due to a tight liquidity situation, VTG added.
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