SALCEF

Salcef Group S.p.A. is an Italian company specialising in the construction and maintenance of railway and metro infrastructure. Founded in 1949 as Cosfer, the group has been controlled by the Salciccia family since 1975 and is currently led by brothers Gilberto and Valeriano Salciccia, respectively Chairman and CEO. Headquartered in Rome, Salcef has a significant industrial presence in Germany, the United States and Australia, and operates commercially on five continents with subsidiaries in nine countries. The group offers a wide range of railway solutions, including track construction and renewal, electrification, signalling, telecommunications, rail grinding and diagnostics, production of concrete sleepers and turnout systems, design and manufacturing of railway machinery, and maintenance of rolling stock. Over its more than 75-year history, Salcef has contributed to the development of railway infrastructure in Italy and worldwide, becoming one of the main players in the sector. Key figures include over 10,000 km of renewed railways, over 2,800 km of newly built railways, over 400 km of high-speed lines built, over 1,600 km of renewed power lines, over 18,000 km of ground rail, over 18 million railway sleepers produced, and over 200 railway vehicles produced. The company was listed on the Italian Stock Exchange from 2019 to 2024, when it was delisted following a takeover by Salbid and a strategic agreement with Morgan Stanley Infrastructure Partners.

The origins of the Salcef Group date back to 1949, when the company Cosfer was founded in Italy, active in the construction and maintenance of railways. In 1975, the Salciccia family acquired control of the company, initiating a process of industrial development characterised by increased production capacity, the introduction of specialised technologies, progressive consolidation in the Italian track market, and the start of internationalisation. Between the 1990s and early 2000s, the Group expanded its perimeter by adding new skills in engineering, industrial production and railway technologies, while progressively expanding its activities in Europe, Africa and the Middle East. In 2018, the first international acquisition was completed with entry into the German market through H&M Bau, now Salcef Bau. In 2019, the company was listed on the Italian Stock Exchange on the AIM market (now Euronext Growth Milan), followed in 2020 by the move to the main MTA market (now Euronext Milan) and in 2021 by admission to the STAR segment. Following the success of the public tender offer promoted by Salbid, which began on 7 October 2024 and ended on 8 November 2024, Borsa Italiana suspended trading of Salcef Group on 15 and 18 November 2024, and delisting took effect from 19 November 2024. In 2020, the Group entered the North American market with the acquisition of 90% of Delta Railroad Construction Inc., active in track construction with operations in the United States and Canada. In subsequent years, Salcef continued its growth through acquisitions and industrial integrations aimed at expanding technological and operational skills. In 2022, it completed the acquisition of the railway branch of the PSC Group, active in signalling, electrification and railway technologies, and the acquisition of Francesco Ventura Costruzioni Ferroviarie, specialised in track works. In 2023, the Group acquired Colmar Technik, a company operating in the production of railway machines. In 2024, Salcef signed a strategic agreement with Morgan Stanley Infrastructure Partners, which led to the delisting of the company from regulated markets. In the same year, Forail S.r.l. was established, dedicated to railway machinery maintenance and rail logistics. In 2025, the Group continued its international expansion with the establishment of Salcef Track in Egypt, aimed at developing activities in the African and Middle Eastern area, and with the acquisition of the Australian company Pilbara Rail Maintenance, further expanding its geographical presence.

• 2025

  Establishment of Salcef Track in Egypt; acquisition of Pilbara Rail Maintenance in Australia.

• 2024

  Strategic agreement with Morgan Stanley Infrastructure Partners; delisting from Borsa Italiana; establishment of Forail S.r.l.

• 2023

  Acquisition of Colmar Technik.

• 2022

  Acquisition of railway branch of PSC Group and Francesco Ventura Costruzioni Ferroviarie.

• 2021

  Admission to STAR segment of Borsa Italiana.

• 2020

  Move to main MTA market (now Euronext Milan); acquisition of 90% of Delta Railroad Construction Inc.

• 2019

  Listing on Borsa Italiana AIM market (now Euronext Growth Milan).

• 2018

  First international acquisition: entry into German market through H&M Bau (now Salcef Bau).

• 1975

  Salciccia family acquires control of the company.

• 1949

  Foundation of Cosfer in Italy, active in railway construction and maintenance.

One of the main players in the railway infrastructure sector, offering integrated solutions from design to maintenance.

• Track construction and renewal

• Rail grinding and diagnostics

• Electrification, signalling and telecommunications

• Concrete sleepers and turnout systems

• Railway machinery

• Infrastructure and civil works

• Rolling stock maintenance and rail freight services

1. 1Salcef Group - Salcef Group S.p.A.salcef.com
2. 2SALCEF - Wikipediait.wikipedia.org
3. 3SALCEF - Wikidatawikidata.org