Astra Rail Industries
{{short description|Rolling stock manufacturer}}
{{Infobox company
| name = Astra Rail Industries
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| predecessor = International Railway Systems, IRS (2002-2011)
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| foundation = {{start date and age|2012}}
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| location_country = Arad, Romania
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| products = Rail wagons
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| parent = Greenbrier Europe
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| homepage = [http://www.astrarail.com/ www.astrarail.com]
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Astra Rail Industries is a Romanian rail vehicle manufacturing company. It was formed in 2002 as the International Railway Systems, part of the Trinity Industries European assets, adding further manufacturing plants in Romania, and a part forging plant in the Czech Republic. In 2012, IRS's three main Romanian manufacturing facilities were reformed under the name Astra Rail Industries, and other activities were sold to third parties. In 2016, The Greenbrier Companies and Astra Rail agreed to form a joint venture, 75% owned by Greenbrier, incorporating both the company's European operations as Greenbrier Europe.
History
;International Railway Systems (2002-2011)
International Railway Systems was founded in 2002. The company acquired MEVA SA in Drobeta Turnu Severin, Romania from Trinity Industries in 2002. In 2004 ROMVAG SA in Caracal was acquired.{{citation|url=http://www.wascosa.ch/upload/EUROTANK_infoletter_08_e.pdf |title=International Railway Systems (IRS) takes over the European business of Trinity |quote=IRS [] was founded in 2002 [..] Meva was acquired by Trinity in 1999 and sold to IRS in 2002 [..] Romvag was purchased when the former owner went bankrupt in 2004 |page=3 |number=8 |date=Sep 2006 |journal=Wascosa Eurotank |url-status=dead |archiveurl=https://web.archive.org/web/20140726122844/http://www.wascosa.ch/upload/EUROTANK_infoletter_08_e.pdf |archivedate=2014-07-26 }}
In 2006 IRS bought the European assets of Trinity Industries (USA) for $30 million.{{citation|url=http://www.irsgroup.eu/news_detail.php?id=22 |archivedate=May 3, 2007 |date=6 Aug 2006 |title=International Railway Systems SA, Announces Acquisition of Trinity's European Rail Business |publisher=International Railway Systems |url-status=dead |archiveurl=https://web.archive.org/web/20070503160836/http://www.irsgroup.eu/news_detail.php?id=22 }} The acquired businesses were Astra Vagoane Arad (Romania), MSV Metals Studénka (Czech Republic),{{#tag:ref|MSV Metals Studénka, before acquisition a European subsidiary of Thrall Car Manufacturing Company (USA).{{citation|url=http://www.msvmetal.eu/en/company-profile/history.php |title=MSV Metal Studénka, a.s.: History |work=www.msvmetal.eu |url-status=dead |archiveurl=https://web.archive.org/web/20140726200211/http://www.msvmetal.eu/en/company-profile/history.php |archivedate=2014-07-26 }} A former Škoda Vagonka factory, see also Škoda Vagonka (czech).|group="note"}} and works in Zug, Switzerland and Poprad, Slovakia.{{citation | url = http://www.eurailpress.de/news/alle-nachrichten/single-view/news/international-railway-systems-irs-uebernimmt-europageschaeft-von-trinity-1.html| title = International Railway Systems (IRS) übernimmt Europageschäft von Trinity| language = german| date = 1 Sep 2006| work = www.eurailpress.de}}
The resultant company in 2007 had three main business divisions: the rail manufacturing division consisted of Astra Vagoane Arad, Meva SA, and Romvag Caracal plus metal forgings manufacturer MSV Metal Studenka; rail wagon fleet company Servtrans; and the marine division through the holdings in Severnay shipyard.{{citation| url = http://www.prnewswire.co.uk/news-releases/international-railway-systems-appoints-juergen-von-schwerin-chief-executive-officer-155010725.html| title = International Railway Systems Appoints Juergen Von Schwerin Chief Executive Officer |date =20 Sep 2007| type = press release}}
In 2008 IRS together with an investor associate acquired a controlling share holding in three former subsidiaries of Mašinska Industrija Niš (Nis, Serbia), the manufacturing companies: MIN Vagonka (wagons), MIN Lokomotiva (locomotives), and Specijalna Vozila (lifting equipment, specialised vehicles). IRS acquired a 49% share of parent holding company Friulexport d.o.o..{{citation| url=http://www.prnewswire.co.uk/news-releases/international-railway-systems-acquires-three-factories-in-nis-serbia-153019555.html| title = International Railway Systems Acquires Three Factories in Nis, Serbia | date = 12 May 2008| type= press release}}{{citation| url=http://www.railwaygazette.com/news/business/single-view/view/international-railway-systems-buys-serbian-companies.html| title = International Railway Systems buys Serbian companies | date = 13 May 2008| work = www.railwaygazette.com}} In 2009 the contract of sale was annulled, and the privatisation of the companies reversed.{{citation| url = http://www.naslovi.net/2010-02-28/vecernje-novosti/nis-ocajni-i-gladni/1572656| title = Niš: Očajni i gladni!| date = 28 Feb 2010| work = www.naslovi.net| access-date = 2014-07-22| archive-url = https://web.archive.org/web/20100302051808/http://www.naslovi.net/2010-02-28/vecernje-novosti/nis-ocajni-i-gladni/1572656| archive-date = 2010-03-02| url-status = dead}}{{citation| url=http://www.blic.rs/Vesti/Srbija/203549/Izvezli-prve-vagone| title = Oporavak niške mašinske industrije| first =M.|last = Smiljkovicić |date = 21 Aug 2010|work = www.blic.rs}}
In 2009 the company's exports amounted to 1.1% of Romania's total exports,{{cite web|url=http://www.zf.ro/burse-fonduri-mutuale/vagoanele-lui-burci-fac-1-1-din-exporturile-tarii-4849231/|title=Vagoanele lui Burci fac 1,1% din exporturile tarii|date=3 Sep 2009|work=www.zf.ro|language=Romanian}} and was the largest European manufacturer of rail wagons with a 20% market share.{{citation| url=http://www.railjournal.com/index.php/news/freight-wagon-business-moves-east.html| title = Freight wagon business moves east | date = 4 July 2011| work = www.railjournal.com}} IRS's rail wagon orders were deeply affected by the Great Recession following the financial crisis of 2007–08 resulting in the main wagon building business becoming insolvent in 2010.{{citation|url = http://www.capital.ro/a-cumparat-verestoy-attila-irs-de-la-cristian-burci-152168.html| title = A cumpărat Verestoy Attila IRS de la Cristian Burci? | first = Senica| last = Micu| date = 21 Sep 2011| language = romanian| work = www.capital.ro }}
;Bankruptcy (2010-2011)
Following a severe downturn in rail wagon orders due to economic depression, Astra Vagoane Arad, Meva and Romvag Caracal became insolvent in 2010, and they were re-organised in 2012 as 'Astra Rail Industries'.
MSV Metals Studénka also entered insolvency in 2011,{{citation| url = http://insolvencni-rejstrik.cz/msv-metal-studenka-a-s_ins-8817-2011/| archive-url = https://archive.today/20140726115313/http://insolvencni-rejstrik.cz/msv-metal-studenka-a-s_ins-8817-2011/| url-status = dead| archive-date = July 26, 2014| title = MSV Metal Studénka, a.s.| work = insolvencni-rejstrik.cz| language = cs}}{{citation| url=http://www.corporatelivewire.com/top-story.html?id=reorganisation-under-czech-law| title = Reorganisation Under Czech Law| first = Juraj |last = Alexander | first2= Jiří|last2= Stržínek| date = 27 November 2013 |work = www.corporatelivewire.com}} it was acquired by JET investment in 2013.{{citation| url=http://hn.ihned.cz/c1-59210050-skupina-jet-investment-hodla-ozivit-vyrobu-v-byvale-vagonce-studenka| title = Skupina JET Investment hodlá oživit výrobu v bývalé Vagonce Studénka| language = czech|date = 29 Jan 2013| work = hn.ihned.cz}}
Subsidiary rail freight operator Servtrans entered insolvency in 2011, and was acquired by rail operating group 'Grampet Services' in late 2011.{{citation| url = http://www.capital.ro/afacerile-lui-burci-se-misca-si-in-insolventa-servtrans-a-incheiat-un-contract-de-43-mil-eu.html| title = Afacerile lui Burci se mişcă şi în insolvenţă: Servtrans a încheiat un contract de 43 mil. euro| first = Alexandru |last = Urzică | date = 1 Mar 2012| work = www.capital.ro}}{{citation| url=http://www.capital.ro/servtransul-lui-gruia-stoica-salvat-de-la-faliment-planul-de-reorganizare-a-fost-aprobat-177302.html| title = Servtransul lui Gruia Stoica salvat de la faliment. Planul de Reorganizare a fost aprobat| first =Senica|last =Micu |date =28 January 2013| work = www.capital.ro | language =ro}}
The 29% stake in Severnav shipyard was put up for sale by the liquidations in 2014.{{citation| url= http://www.zf.ro/burse-fonduri-mutuale/un-pachet-de-29-din-santierul-naval-severnav-e-la-vanzare-pe-rasdaq-prin-executare-silita-12253340| title = Un pachet de 29% din şantierul naval Severnav e la vânzare pe RASDAQ prin executare silită| date = 13 Apr 2014| publisher = Ziarului Financiar / www.zf.ro |language =ro}}
;Astra Rail Industries (2012-)
The three rail vehicle manufacturing sites in Romania were reformed under Astra Rail Industries in 2012. The companies were acquired for €30 million which was returned to creditors. The new company's parent was Astra Rail Management BV (95%, Netherlands).{{citation| url=http://www.railwayinsider.eu/wp/archives/37877| title = Astra Rail Industries takes over 3 IRS companies| date = 10 July 2012| work = www.railwayinsider.eu}}{{citation| url = http://www.railwaystrategies.co.uk/article-page.php?contentid=16987&issueid=475| title = New lease of life| date = 1 Feb 2013| work = www.railwaystrategies.co.uk }}{{citation| url = http://www.rbs.ro/en/news/rbs-and-astra-rail-industries| title = RBS and Astra Rail Industries announce the restructuring of International Railway| date = 1 Nov 2012| work = www.rbs.ro| access-date = 22 July 2014| archive-url = https://web.archive.org/web/20140726170238/http://www.rbs.ro/en/news/rbs-and-astra-rail-industries| archive-date = 26 July 2014| url-status = dead}}
In Oct 2016 the holding company Astra Rail Management and The Greenbrier Companies (USA) announced they intended to merge their European activities into a joint venture "Greenbrier-Astra Rail" - as part of the agreement Greenbrier was to pay $60million total to Astra Rail, with the joint venture becoming 75% owned by Greenbrier.{{citation| url = http://www.railjournal.com/index.php/financial/greenbrier-europe-and-astra-rail-to-merge.html| title = Greenbrier Europe and Astra Rail to merge| first = Dan | last = Templeton| date = 13 Oct 2016| work = www.railjournal.com }}
In June 2017, The Greenbrier Companies and AstraRail Management merged and began operating under the name Greenbrier Europe.
See also
References
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External links
{{commons category|Astra Rail Industries}}
- {{citation| url = http://www.irsgroup.eu/| title = International Railway Systems|archiveurl = https://web.archive.org/web/20070516040639/http://www.irsgroup.eu/|archivedate = 16 May 2007 }}
Category:Rolling stock manufacturers of Romania
Category:Romanian companies established in 2012