Sidenor confirms it is planning the “full or partial” purchase of Talgo

The Basque industrial group Sidenor informed railway manufacturer Talgo this Wednesday of its intention to invest in its capital, either by buying a part or even taking over the entire company.

This was reported by Talgo to the National Securities Market Commission (CNMV) after the market closed in a statement, saying that it “received today a letter of expression of interest from Sidenor, purporting to undertake the total or partial acquisition of the share capital of Talgo”.

This Wednesday, Talgo’s shares continued the upward path that they started on Tuesday, as a result of the publication of the first information that once again gave oxygen to the company’s situation to increase its industrial capacity.

Specifically, they have registered an increase of 4.9%, to 3.64 euros per share, reaching the highs of early September, although they are still far from the 5 euros that the Hungarian group Magyar Vagon offered to acquire 100% of to take over the company. Sidenor, based in Basauri, focuses on the production of special long steel and is also a supplier of calibration products to the European market. It has production centers in Euskadi, Cantabria and Catalonia, and has commercial delegations in Germany, France, Italy and the United Kingdom. The search for an industrial partner has been underway in recent months in Euskadi, where Talgo has a factory in Rivabellosa (Álava), with a workforce of almost 700 employees, excluding temporary workers and auxiliary companies working for the company. The company has nearly 2,500 direct employees across the state.

The Basque institutions themselves (the Basque Government and the Provincial Council of Álava) have confirmed that they are working in a coordinated manner to assist in the search for a partner, with the aim of promoting a project that will allow addressing the planned investments and not only the continuity of Talgo, but also the requests we will face in the future.