The private company Magyar Vagon has purchased 75% of the shares of the MÁV Vagon rolling stock repair plant, which is part of the Hungarian State Railway Group, located in Szolnok, as reported by the railway portal Railway Supply.

Magyar Vagon

MÁV expects this acquisition to make MÁV Vagon more competitive and business-oriented, as well as expedite the completion of projects.

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Previously, it was reported by Interfax that Transmashholding (TMH) had sold its Hungarian business to the local partner, Magyar Vagon Zrt.

In Hungary, a subsidiary of TMH – TMH International, had two joint ventures with Magyar Vagon Zrt, specializing in railway industry projects.

One joint venture was called TMH Hungary, and the other was TMH Hungary Invest.

Two years ago, TMH Hungary Invest acquired a 90% stake in the Hungarian engineering company Dunakeszi, with the asset being valued at approximately $25-30 million. TMH Hungary managed Dunakeszi.

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