The merger between Greenbrier Companies and Astra Rail has taken a step closer with regulatory approval in Europe.
An announcement between Greenbrier, an international supplier of freight rail equipment and services, and Astra Rail, a rail vehicle manufacturing company, was made on May 18.
The move will be completed on June 1, 2017, to create an end-to-end, Europe-based freight vehicle manufacturing, engineering and repair business.
Greenbrier-Astra Rail – the new name of the joint firm – will be headquartered in the Netherlands with principal operations in Poland and Romania.
In total it will employ close to 4,000 employees and run six production facilities across Europe.
News of the proposed merger was first announced in October, 2016.
At the time a statement from Greenbrier said that the joint company would “provide the opportunity to pursue growth in railcar markets in the Gulf Cooperation Council (GCC) nations and Eurasia.”
In addition it stated that Greenbrier will pay Astra Rail €60 million in total and would have 75 per cent control of the new company, with Astra Rail’s chairman Thomas Manns owning the rest.