Greenbrier-AstraRail, Europe's largest wagon manufacturer, bought the majority stake in Adana-based Turkish company Rayvag Vagon. 32 percent of the company's shares remained with the founder Asım Süzen. Greenbrier – AstraRail, one of the companies of the Greenbrier Europe group, was established last year to operate in Europe with the merger of the US Greenbrier and AstraRail companies, one of the largest in the industry. The Poland-based company became Europe's largest railcar manufacturing, engineering and repair company following this merger.
The last stop of Greenbrier – AstraRail, which employs 6 thousand people in its production facilities and all operations in 4 countries, was Turkey. The company entered the fast-growing wagon market in Turkey by acquiring 68 percent of Adana-based Rayvag Vagon. The sale price was not disclosed.
Greenbrier to establish factories in Turkey and years before the merger with astrarail had taken place in the press for news that you want to produce 1000 cars. The company is not established factories in Turkey, he chose to enter the buying company.
The statement made by the company in Asia with Turkey is very important that a transport bridge between Europe and intercontinental market in drawing attention to the railway wagon shipments said to be very serious opportunities.
The statement of the freight transport sector in Turkey has grown rapidly and has underlined that the Turkish government is committed to modernizing the existing railway system. The law that opened passenger and freight transport to the private sector in railways was expected to reach a volume of 2014 million tons by 2023, while the transportation activities on the railways have increased.
Greenbrier Chairman and CEO William A Furman also made a statement on the subject and said, “We see Turkey and the Mediterranean as a key in the global transportation system. Our entry into Turkey makes a lot of sense for us in terms of expanding our operations in Europe.”
Founded in 2007, Rayvag is a manufacturer of wagon and spare parts installed in Adana. Asım Süzen, the founder of the company, will have a 32 percent share after the sale.
Evaluating the agreement, Suzen said that they wanted to grow as Rayvag, but growth on this scale would not be possible without Greenbrier's investment.
Suzette, "Greenbrier - astrarail the European rail expertise mAktAki design appropriate cargo trains standards as well as worldwide production systems and procurement practices, increase in Turkey's railway transportation strengthens the position of the Rayvag to growing demand. Greenbrier's financial strength also makes Rayvag in the coming years to a partnership that will respond to the expected significant growth in Turkey, "he said.
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