Faiveley Transport
Website | FaiveleyTransport.com |
---|
Faiveley Transport (French pronunciation:
History
First years
In 1919, Louis Faiveley founded in
After the
Internationalisation
In 1961, the company created a
The company continued its expansion. It opened subsidiaries in Spain and Brazil (Equipfer) in 1966 and 1976, respectively. In 1979, an Italian branch was created. Although initial attempts to enter into the American and Canadian markets were not as successful, by the late 1990s it had expanded into those countries.[4][5]
The Stone-Faiveley AMBR pantograph is one of the four standard
France remained as Faiveley's core market. During the 1970s, the company introduced new corail coaches for the
In 1984, Faiveley purchased
The company was one of the suppliers of the new SNCF's TGV trains. In 1990, its pantographs were key to achieve a new 513.3 kilometres per hour record by TGV Atlantique.[4]
In 1991, the company moved its headquarters to Saint-Pierre-des-Corps.[4][5]
Diversification
With competition becoming more intense in its field of activity, Faiveley decided it was time to expand their operations.
In 1992, the company acquired plastics product maker Grand-Perret. In 1993, Faiveley moved to concentrate its activities around its historic core of railroad and transportation equipment and its brand new plastics division, selling its Faiveley Automatismes subsidiary. It also made an aggressive move to increase its business in the Japanese market, one of the most important at the time, forming a joint venture with Nabco called Nabco-Faiveley Ltd which became one of leading providers of Japan's railroad. Later, Faiveley partnered also with Mitsui.[8] That year Faiveley created a British subsidiary, to take a part of the business in the recently privatised rail system.
In 1994, Faiveley was listed on the
In 1995. Faiveley purchased the German railroad air conditioning company Hagenuk Fahrzeugklima from its parent company Siemens. The purchase was a key step into the German market as well as the Asian through its Chinese subsidiary Shanghai Hagenuk Refrigerating Machine, but also brought losses to the company during the following years. This led to a reorganisation that included staff reductions in Germany and France and changes in the board of directors.[4]
In December 2002, Faiveley purchased a 75 percent stake in the Czech pantograph and electro-mechanical equipment supplier Lekov.
In April 2008, the company acquired from
In September 2009 Faiveley SA and its subsidiary Faiveley Transport merged into a sole company, called Faiveley Transport SA.[1][13]
In March 2011, the company purchased an 80 percent stake in the rolling stock heating, ventilation and air conditioning equipment manufacturer Urs Dolder AG and the remaining stake of Lekov.[9][14]
On 3 February 2012, Faiveley Transport completed the purchase of Graham-White, an American designer and manufacturer of compressed air drying and brake systems for rail transport.[15]
In February 2013, the company won a trial against
On 30 November 2016, the 51% stake of the company controlled by the Faiveley family was purchased by Wabtec, giving Wabtec controlling interest in Faiveley Transport.[17]
Current activities
Faiveley Transport offers a wide range of products related to the train equipment, such as cabin heating, ventilation and air conditioning (
Acquisition by Wabtec
In December 2016, Wabtec acquired majority stock ownership of Faiveley Transport from the Faiveley family, who had owned about 51% of the outstanding shares, for €1.6 billion and 6.3 million shares of Wabtec's common stock.[6] After tender offers for the remaining outstanding shares, Wabtec owned 98.53% of Faiveley stock, with 97.66% of the voting rights. Wabtec plans to complete the acquisition with a mandatory squeeze-out of the shares which were not tendered.[18]
References
Sources
- ^ BusinessWeek. Archived from the originalon 18 January 2013. Retrieved 16 August 2012.
- ^ a b c d e "Annual Report Financial 2011/2012" (PDF). Faiveley Transport. Retrieved 16 August 2012.
- ^ a b c "Company Profile: Faiveley Transport SA". reuters.com. Reuters. Archived from the original on 25 February 2016. Retrieved 16 August 2012.
- ^ ISBN 1558624449.
- ^ a b c d e f "Faiveley is on the right track". Manufacturingtoday-europe.com. May–June 2007. Archived from the original on 16 December 2013. Retrieved 16 August 2012.
- ^ a b "WABTEC AND FAIVELEY TRANSPORT JOINTLY ANNOUNCE THAT WABTEC ACQUIRES MAJORITY OWNERSHIP OF FAIVELEY TRANSPORT". Faiveley Transport. Retrieved 30 June 2017.
- ^ Details of pantographs used in the UK_summary, Paragraph 3.1.4 Pantograph Types
- ^ Nouvelle, L'Usine (17 March 1994). "Faiveley s'ouvre les portes du Japon" [Faiveley opens the doors of Japan]. L'Usine Nouvelle N°2448 (in French). Usinenouvelle.com. Retrieved 16 August 2012.
- ^ a b "Faiveley Transport SA Becomes 100% Owner of Lekov, Its Czech Subsidiary, by Acquiring the Remaining 25% Capital". reuters.com. Reuters. 11 March 2011. Archived from the original on 1 February 2013. Retrieved 16 August 2012.
- ^ "Pantographs participate in the TGV speed record" (PDF), Industrial Engineering News Europe, 33 (8): 15, 2007, archived from the original (PDF) on 28 August 2016, retrieved 17 August 2012
- ^ "Faiveley Transport Reinforces its Position in High Energy Braking by Completing Acquisition of Carbone Lorraine's Sintered Brake Material Sector". Railway-technology.com. 1 April 2008. Archived from the original on 10 August 2016. Retrieved 17 August 2012.
- ^ "Faiveley Transport Successfully Completes the Acquisition of Ellcon-National". Railway-technology.com. 31 July 2008. Archived from the original on 25 September 2017. Retrieved 17 August 2012.
- ^ "Profile: Faiveley Transport SA". biz.yahoo.com. Yahoo! Business. Archived from the original on 13 December 2005. Retrieved 16 August 2012.
- ^ "Faiveley Transport SA To Acquire 80% Interest Of Dolder AG". reuters.com. Reuters. 25 February 2011. Archived from the original on 1 February 2013. Retrieved 16 August 2012.
- ^ "Faiveley Transport SA Finalizes Its Acquisition of 100% of Graham-White". reuters.com. Reuters. 6 February 2012. Retrieved 11 March 2013.
- ^ "Faiveley Transport SA Wins Trial Against Wabtec Before The Court Of Appeal Of New York". reuters.com. Reuters. 7 February 2013. Archived from the original on 11 April 2013. Retrieved 11 March 2013.
- ^ "Wabtec completes $US 1.7bn acquisition of Faiveley Transport". International Railway Journal. 1 December 2016. Archived from the original on 30 December 2017. Retrieved 5 December 2016.
- ^ "WABTEC ANNOUNCES RESULTS OF FINAL TENDER OFFER FOR SHARES OF FAIVELEY TRANSPORT". Wabtec Corporation. Retrieved 30 June 2017.