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Hungary’s Rába and Germany peer establish JV

Listed engineering Hungarian company Rába has spun off its foundry business into a new joint venture with German peer M. Busch GmbH, a member of the BPW German machinery group, the leading axle and vehicle chassis manufacturer in Europe, Rába announced.

Ownership stakes in the JV, Busch-Rába Öntöde are to be split between Rába and M. Busch 25.5% and 74.5%, respectively. Rába is to contribute the foundry’s properties, machinery, workforce and other associated assets, while M. Busch is to provide the financial means of realizing a Ft 3.5 billion (about $19.9 million) capacity expansion scheme. Rába said the development initiative is to double the foundry’s capacities.

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