Romanian rail freight company S.C. GRAMPET has purchased 100% of rolling stock maintenance company MAV Debreceni Járműjavító from Hungarian state-owned railway company MAV, the companies announced.
MÁV declined to reveal the value of the transaction, citing reasons of business secrecy.
MÁV sold the company because freight services are no longer part of its core activities since the sale of MÁV Cargo, said MAV deputy-CEO in charge of portfolio management Sándor Sípos. MÁV Debreceni has produced and repaired freight cars.
In the purchase contract, S.C. GRAMPET promised to keep headcount unchanged for two years, recognise the existing collective contract with employees and invest at least €1.5 million in the company over the next three years.
MÁV will retain ownership of the properties used by MÁV Debreceni Járműjavító. (MTI – Econews)