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Vossloh AG is increasing its North American presence by opening a production plant for Vossloh rail fastening systems in Texas. By manufacturing within the USA, Vossloh will meet Buy American requirements for government contracts. Production in is scheduled to begin during the second half of 2014.
According to the World Rail Market Study published in 2012 by the Association of the European Rail Industry and Roland Berger Strategy Consultants, from 2009 to 2011, the U.S., Canada and Mexico is projected to rise to €5.9 billion (US$7.9b) by 2017. That includes replacement expenditures, the freight haulage network, new high-speed projects and rapid transit lines.
With its transportation and rail infrastructure divisions, Werdohl, Germany-headquartered Vossloh has already been operating in the North American market. Currently 64% of Vossloh sales are in Europe. The Vossloh Group focuses on rail infrastructure, rail vehicles and electric buses. In fiscal 2012, around 5,100 employees generated sales of Euro 1.2 billion (US$2 billion). The new Vossloh fastener plant in the U.S. could qualify the rail fastener manufacturer for more sales here.
The American Recovery & Reinvestment Act of 2009 was passed by the 111th Congress in 2009 and signed by President Barack Obama to respond to the recession. The original Buy American Act was passed in 1933 and signed by President Herbert Hoover on his last full day in office. A similar domestic spending law was passed in 1982 under President Ronald Reagan.