The president of steelmaker Sidenor, José Antonio Jainaga, who heads the consortium that has taken control of Tren Articulado Ligero Goicoechea Oriol (Talgo), has been appointed chairman of the Spanish train manufacturer.
He will succeed Carlos de Palacio Oriol, who is stepping down after 38 years at the company. The handover marks the departure of the founding families from the top management of the Basque train manufacturer, Kallanish notes.
Last December, Sidenor acquired a 27.4% stake in Talgo’s share capital, paying €156 million ($185.9m).
