Burci takes over three plants in Serbia

The International Railway Systems (IRS) group, held by businessman Cristian Burci has entered the Serbian market, by taking over, in partnership with a strategic investor, a 49% stake in holding company Friulexport, for an undisclosed amount of money. Friulexport holds majority interests in each of MIN Vagonka (86.92%), MIN Lokomotiva (87.1%) and Specijalna Vozila (89.54%). “The three plants currently have an under five million-euro turnover, but could reach as much as 150 million euros in the future,” Cristian Burci told ZF. The acquisition made by IRS in Serbia allows the company to expand its rolling stock manufacturing capacity and to launch locomotive production. The IRS group, which posted a pre-tax turnover worth 500 million euros, holds three plants in Romania, Astra Vagoane Arad, Romvag Caracal and Meva Mehedinti. The company manufactures around 5,600 carriages a year, with IRS’s main client being Deutsche Bahn.