Talgo’s red lines in the face of a takeover bid for the Hungarian Magyar Vagon group

Talgo assures that this is Red lines in ongoing takeover of Hungarian company Magyar Vagon about the Spanish manufacturer “they are and will be” preserve jobs and industrial potential in Spain, keep Talgo’s headquarters and management here, and retain ownership of the patents.all of which are consistent with the “best option for shareholders.”

In a statement sent after meeting of shareholders held behind closed doors in Madrid, Talgo President Carlos Palacio stressed that in the coming years the majority of revenue will come from international marketwith the main focuses of opportunities in European countries, Middle East and North Africaand in segments high speed and long distance.

In 2023, the railway operator achieved record revenues of 652 million euros, up 39% on the previous year, with a net profit of 12.24 million, almost ten times more than 1.44 million in the previous year.

As published, Talgo sharply increased its revenue and order book in the first quarter of this year in the midst of a takeover bid. HOSTELTOUR tourism News.

The order book ended 2023 at a historical high with a volume of 4.223 million euros.of which more than 2,100 million correspond to “demanding” markets Germanywith Intercity projects designed for Deutsche BahnAnd DenmarkFor DSB.

Your CEO, Gonzalo Urquijoalso highlighted the Very High Speed ​​projects based on the Avril platform for Renfe and Adif, as well as the supply of long-distance trains for ENR in Egypt.

Talgo’s industrial plan in five years

Meanwhile, at the same time as the meeting, CCOO filed a lawsuit this Thursday. Talgo’s industrial plan for more than five years aheadafter a meeting with the main shareholder of the Hungarian consortium Magyar Vagon, Andras Tomborwhich presented a proposal to take over the entire capital of the Spanish company 620 million euros.

In its statement, the union also said that it had submitted its “concerns” about the future of the company design and construction of trains.

At a meeting held on June 25, Tombor once again expressed his commitment maintain the Spanish character of the company and employmentas well as a guarantee technology transfer to SpainAccording to the union, which stresses the need to extend the industrial plan beyond five years.

Waiting for the government’s decision

The National Securities Market Commission (CNMV) and the government are reviewing the operation after the expansion The deadline for this ended on June 22 to request more informationand the executive branch will speak first.

The executive, who made no secret of his opposition to the takeover proposal:

– Puente is now banking on a Spanish counterattack against Talgo.

– Magyar Vagon: the viability of the Talgo takeover bid is up in the air

– New government attempt to cancel Talgo takeover bid: now with SEPI