Greater Waco Chamber Press Release — Vossloh AG announces a United States production facility for Vossloh rail fastening system in McLennan County, Texas. Vossloh operates worldwide in selected rail infrastructure and rail technology markets, focusing on heavy-haul, transit and high-speed rail.
“Vossloh has chosen to set up operations in Waco, Texas. The decision was based mainly on the proximity to regions with current clients, as well as, a unique tax situation at this specific site,” said Frank Sbielut, manager business development.
Vossloh will absorb a 100,000-square-foot facility adjacent to the TRANE facility along Highway 84. Construction within the facility will begin in the third quarter of 2013, with plant production scheduled to begin after mid-2014. Employment is expected to reach 28 employees.
“With the announcement of Vossloh entering the McLennan County business community, shows the diversity of businesses that Central Texas attracts,” said Judge Scott Felton, McLennan County. “Thanks to the Greater Waco Chamber, McGregor economic development staff and regional partners for matching up a great location in the facility adjacent to TRANE located near McGregor with a dynamic international business that is well established world-wide with the financial wherewithal to provide growth in the future.”
Hiring is currently under way with 90 percent expected to be in place by the end of 2014. The company is currently working with Workforce Solutions in the Heart of Texas for personnel recruiting.
With its two divisions, transportation and rail infrastructure, Vossloh AG for a number of years has been successfully operating in the North American market as the third-largest supplier of switches, turnouts and components. Vossloh’s Transportation division supplies rail vehicle components, in addition to, having completed an extensive array of complex bus and light-rail refurbishment projects.
The Vossloh Group, headquartered in Werdohl, Germany, comprises over 30 companies in 100 countries. More than 5,000 employees generated group sales of around $1.6 billion in 2012, including just under 80 percent outside of Germany and mainly in other European countries. Non-European sales make up 36 percent.
The real estate transaction was brokered by H. Bland Cromwell, CCIM, SIOR of Coldwell Banker Commercial Jim Stewart Realtors.
Today’s Vossloh is a global player in the rail technology markets. The Group focuses on its core businesses of rail infrastructure, rail vehicles, and electric buses. Reflecting this focus, Vossloh’s two divisions, Rail Infrastructure and Transportation, operate under the roof of Vossloh AG. In fiscal 2012, around 5,100 employees generated sales of $1.6 billion USD and an EBIT of $129.7 million USD.
About Greater Waco Chamber:
Greater Waco is located in McLennan County, Texas along the Interstate 35 corridor and is home to more than 14,000 companies, 234,906 people and a regional workforce of approximately 320,000. To prepare and market the Greater Waco region for the businesses and jobs of the future, Greater Waco is strategically positioned with centralized access to Dallas and Austin (90 miles) and Houston and San Antonio (185 miles).
McGregor, a community of 5,143 residents, is located in western McLennan County and within a 15-minute drive to Waco. The community is home to multiple globally renowned companies, such as SpaceX, Ferguson Enterprises, Foster Wheeler and most recently, Behlen Manufacturing.
Since 2006, Greater Waco has seen more than $813 million in new capital investments and $530 million in riverfront and downtown development, making it an attractive place to live, work and play. Greater Waco is landscaped with top-rated higher educational institutions, including Baylor University, McLennan Community College and Texas State Technical College Waco.
The Greater Waco Chamber targets five key industries for economic development, which include: Advanced Manufacturing, Aerospace and Defense, Health Care, Professional and Financial Services and Supply Chain Management. For more information, visit WacoChamber.com.