(Reuters) - Spanish train maker Talgo posted a full-year net loss of 107.9 million euros on Friday, dampened by a 116 million euro penalty imposed by state-owned railway company Renfe following
Talgo Reports €107.9 Million Net Loss Following Renfe Penalty
(Reuters) - Spanish train maker Talgo posted a full-year net loss of 107.9 million euros on Friday, dampened by a 116 million euro penalty imposed by state-owned railway company Renfe following delivery delays.
The firm had reported a net profit of 12.2 million euros a year earlier
Basque steel maker Sidenor earlier this month agreed to buy 29.7% of Talgo, bringing an end to months of rival bids for a stake in the company.
(Reporting by Ana Cantero in Madrid and Mireia Merino and Marta Serafinko in Gdansk; Editing by Kirsten Donovan)
