The Škoda Group has announced it has acquired a 36% stake in Latvian company SIA L-Ekspresis, and now possesses a call option to require the remaining 64% by the end of 2028.
SIA L-Ekpresis specialises in the maintenance, servicing, repair and modernisation of railway vehicles, and the Škoda Group’s investment falls in line with its strategy to advance development of its long-term service business, as well as strengthen its local presence in its operating markets.
By combining both L-Ekspresis’ local expertise, experience in the maintenance, repair and modernisation of railway vehicles with the Škoda Group’s technological and service know-how, the groups will aim to create further opportunities to develop services for customers across the region.
Petr Novotný, CEO and Executive Chairman of Škoda Group, said:Our ambition is not only to deliver new vehicles, but to be a long-term partner to our customers throughout the entire vehicle lifecycle. Our investment in L-Ekspresis is therefore a natural step in our strategy to further develop our service business.
We want to build on strong local capabilities while bringing our technological know-how and experience to the regions in which we operate.
The Škoda Group has spent recent years steadily strengthening its presence within the Baltic region, with 32 Škoda 16Ev electric units already in operation in Latvia and a further nine battery trains set to be supplied at a later date. Elsewhere, the Group has delivered 16 electric units for operator Elron and is delivering 40 battery-powered trolleybuses to Tallinn this year.
In Lithuania, the Škoda Group has completed the delivery of new trolleybuses for Vilnius, and the investment in L-Ekspresis represents another step in Škoda Group’s long-term development in the Baltics and in strengthening its local service capabilities.
