Talks with Bidders not to Be Continued

Today, Monday 27 January 2014, the Management Board of Voith GmbH has decided that the talks about a sale of the locomotive production in Kiel will not be resumed. The continuation scenario arising from the recent talks with interested parties has proved to be unsatisfactory from a corporate and commercial perspective, especially with a view to ensuring existing customer commitments.

As part of the Group-wide program Voith 150+, the location Kiel will now be restructured until 30 September 2014. This restructuring plan goes hand in hand with a stronger orientation towards the service and maintenance business for rail vehicles.

Voith Turbo GmbH und Co. KG has today informed its economic committee about this resolution of the Management Board and will now enter into talks with the works council, in order to discuss the implementation of this decision in greater detail. The future structure of the location will be confirmed as soon as the talks are finalized. In order to ensure clarity for all those involved as promptly as possible, the talks with the works council will start at the earliest opportunity.

Voith sets the standards in the energy, oil & gas, paper, raw materials and transportation & automotive markets. Founded in 1867, Voith employs more than 43,000 people, generates €5.7 billion in sales, operates in over 50 countries around the world and is today one of the biggest family-owned companies in Europe.