The business focuses on welded rails, turnouts, track components and posted revenues of $42 million last year.

The BRFC, one of the five largest railway system providers in Australia, is a key railway competence centre for Sydney Trains which in turn operates a majority of the railway network in the Australian state of New South Wales.

Voestalpine is expanding its presence in Australia where it already operates 12 sites and generated revenues of around $115 million in 2013-14.

The company’s Australian workforce will increase from 200 to around 260 with the acquisition.

Australia has the world’s seventh largest railway network.

“This acquisition extends our product and customer portfolio in Australia to include passenger and local traffic, and continues to expand our already excellent market position further,” Voestalpine’s metal engineering division Franz Kainersdorfer said.

“The group is also diversifying its product and customer portfolio with this acquisition in Australia. As a result we are expanding our product range covering passenger rail traffic, and expect to form new partnerships in the urban infrastructure sector.”

The company is also hoping to expand its interest in the heavy load sector.