Fully integrated railway solutions provider voestalpine VAE SA has announced that it has brought a strong local shareholder on board to support its local and regional development.
Chairperson Günter Neureiter says this is in accordance with the company’s core strategic cornerstones to develop strong regions as a basis for the further development of voestalpine Railway systems to become a railway infrastructure system supplier.
The company has signed an agreement with Mirai Rail Corporation, which will hold the majority of the shares of voestalpine VAE SA. This acquisition paves the way for voestalpine VAE SA becoming the only black woman-owned and led BBBEE rail company on the continent that designs, manufactures and supplies all turnouts and turnouts components, supplies railway rails, and provides welding and logistics services.
voestalpine Railway Systems, globally recognised as the leader in rail technology, will continue to provide technical knowhow and support to voestalpine VAE SA in order to support the company’s growth strategy, not only in South Africa but across the Southern African region, Neureiter notes.
“A strong local footprint with strong local involvement of the management and shareholders is the key for successful development of our South African organisation into the future,” he says.
Mirai Rail is owned by Pulane Tshabalala Kingston, a seasoned entrepreneur with primary interests in the industrial services sector of the economy. She established Mirai Rail in order to offer rolling stock refurbishment and component parts supply. It also offers customers rail health solutions that are innovative, cost efficient and technologically best in class.
The new ownership structure will result in corresponding changes in the management within voestalpine VAE SA.
Tshabalala Kingston has been appointed CEO and Chief Sales Officer in the management of voestalpine VAE SA, effective immediately.
David Marite has taken over the role of COO and will accompany the handover to provide stability in the South African market. Massimo Del Grosso will continue in the role of CFO.
“With the introduction of the new ownership and management structure, I am convinced that the market in South Africa and the entire region can be best served and developed, ensuring maximum customer centricity and success for voestalpine VAE SA,” says Neureiter.
He emphasises that voestalpine Railway Systems will continue to provide full and comprehensive support under the new shareholding structure.
“I wish Pulane Tshabalala Kingston, David Marite, and all of the management and employees of voestalpine VAE SA best wishes and lots of success in this new era.
It is through their great efforts and contributions that voestalpine VAE SA has been able to cope with a challenging market environment and the Covid-19 conditions in South Africa,” he says.