Vossloh - Spin-offs and Subsidiaries

Spin-offs and Subsidiaries

In 2000 Vossloh and Angel Trains formed a locomotive leasing business - Locomotion Partners consisting of two companies:

• Locomotion capital Ltd. (90% owned by Angel trains, 10% Vossloh) : a locomotive procurement, rental and management company initially headquartered in London.
• Locomotion Service GmbH (90% owned by Vossloh, 10% Angel trains) : a locomotive servicing and modification company that would initially contract its work to Vossloh SFT in Kiel.

The companies would not exclusively hire and service only Vossloh locomotives, and would act independently, depending on the circumstances. In 2004 the 10% stake in Locomotion capital Ltd. was sold and the stake in Locomotion Service GmbH increased to 100%.