TMH completed the acquisition of a 90% stake in the rail business and industrial site of Dunakeszi Járműjavító from MAV and MNV.

Transmashholding, a manufacturer of locomotives and rail equipment in Russia, completed the acquisition of a 90% stake in the rail business and industrial site of Dunakeszi Járműjavító from MAV Railways, a national railway company, and MNV, the rights owner over state assets. Financial terms were not disclosed. “The completion of DJJacquisitionrepresents a major step forward in our global expansion strategy. DJJ will be part of TMH, giving it significant opportunities to grow via its participation in national and international rail tenders. In a commitment to support Hungary’s export capabilities, TMH brings to the site of Dunakeszi the largest ever railway manufacturing project in the history of Hungary: the production and supply of almost 680 railway passenger coaches for the Egyptian National Railways,” Kirill Lipa, TMH CEO.