The Spanish rail vehicle manufacturer Construcciones y Auxiliar de Ferrocarriles (CAF) has completed their takeover of the Polish electric bus manufacturer Solaris Bus & Coach. On the 4th of September, CAF received all shares from Solaris. The Polish government will receive 35% ownership, which was negotiated beforehand.
The deal with the Polish government retaining a 35% minor ownership of the company was negotiated by the Polish development fond Polski Fundusz Rozwoju (PFR) ahead of the deal, and the transfer between CAF and the Polish authorities will take place in the next weeks.
The two companies aim to consolidate their markets by combining road and railway vehicles. They also aim to position themselves centrally for public transport and goods transport in the e-mobility markets. CEO of the CAF Group said: “Together with Solaris, we will create a leader in urban mobility solutions beyond rolling stock, particularly in the e-mobility segment. The combination of both companies’ know-how in production, design, technology and services, together with the track record of Solaris in bus product innovation will allow us to better serve our clients while creating shareholder value.”