NDYLTK Rail has become a wholly-owned subsidiary of LTK Engineering Services and has changed its name to LTK Australia Pty. Ltd. In 2011, LTK Engineering Services and Norman Disney & Young (NDY) established a partnership to offer rail engineering services for clients in Australia, New Zealand, Asia and Africa. NDY was recently acquired by another firm, which gave LTK the opportunity to purchase NDYLTK outright, company officials said in a press release. Financial details of the acquisition were not disclosed.
Spanish rolling stock manufacturer CAF has signed an agreement to acquire Polish bus and tram maker Solaris Bus & Coach S.A. The move is aimed at making the CAF Group a market leader in the bus segment and opening new opportunities for the company's urban rail business in Central and Eastern Europe. The acquisition also will provide an opportunity to enter and grow in "new mobility-related areas," CAF officials said in a press release. Solaris has an estimated enterprise value of more than $350 million.
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