Corporate Realignment Of The Mountain Railways In Kleinwalsertal: 200 Million Euros Investment
The Allgäuer Überlandwerk (AÜW) and the Energieversorgung Kleinwalsertal (EVK) have had a lasting impact on the region for decades with their involvement in the Kleinwalsertaler Bergbahn AG - together with the Walser Raiffeisen Holding (WRH) - and have successfully promoted the development of tourism. The municipality of Mittelberg, together with the WRH, is now taking over the 51% of the shares in the Kleinwalsertaler Bergbahn AG (KBB) previously owned by AÜW and EVK.
Future Package: Major Investments for the Region
The takeover of the KBB shares is accompanied by a comprehensive future package with an investment volume of over 200 million euros, which was jointly developed by the partners WRH, AÜW and EVK. It includes strategic investments in infrastructure and quality assurance in order to further strengthen Kleinwalsertal as a leading tourist destination. The focus is on the necessary new construction of the Walmendingerhornbahn, which is to be completed as early as 2026. In the medium term, the modernization of the Kanzelwandbahn (2029) and the construction of a new snowmaking pond on the Fellhorn (2030) are also planned. These measures are essential to maintain the attractiveness of the mountain railways and to expand the range of services for guests and locals alike.
"The decision to take over was made in close coordination between all parties involved. Our common goal is the timely implementation of the future package. This will secure the economic stability of the mountain railways in the long term, thereby creating the basis for continued successful tourism development and promoting prosperity in the valley. Each owner should concentrate on their core tasks - the municipality and holding company on the development of the railways, AÜW and EVK on the energy future in the region. What I am particularly pleased about is that the purchase of the shares and thus the assumption of responsibility for the mountain railways is widely supported in the valley. At yesterday's municipal council meeting, all municipal representatives unanimously confirmed the purchase across all factions. I would like to take this opportunity to thank everyone. And of course we will remain shareholders in AÜW," explains Andi Haid, Mayor of Mittelberg.
"Tourism and in particular the mountain railways have always been the focus of AÜW's investments. As a regional electricity supplier and energy service provider, the economic development of the entire region is of the utmost importance to us. In addition to our corporate involvement with the Ofterschwanger Bergbahnen and the Alpspitzbahn in Nesselwang, we are taking over KBB AG's 24.9% share in Nebelhorn AG and thus remain a strong partner of the Oberstdorf Kleinwalsertaler Bergbahnen. We are pleased that Kleinwalsertal is ready to meet the financial challenges of the future so that we can concentrate on the energy future," emphasizes Thomas Kiechle, Mayor of Kempten and Chairman of the Board of Directors of AÜW.
Focus on core tasks
The acquisition of the shares is based on strategic considerations and is a logical consequence of the different requirements that the current shareholders are faced with. AÜW and EVK are facing the challenges of the energy transition and will in future focus even more on the necessary expansion of renewable energies and the associated network expansion in the Allgäu and Kleinwalsertal.
"The mountain railways in Kleinwalsertal and on the Fellhorn have always been a matter close to our hearts. They have shaped our understanding, our thinking and our actions for years. In the coming years, our focus will be even more on the future of energy, which is associated with enormous investment requirements. Despite all our ties, now is the right time to focus. That is why we have developed this solution together - in the interests of all partners and the region," says AÜW Managing Director Michael Lucke.
The WRH, on the other hand, sees it as its task to strengthen the tourism location in the long term and to secure the necessary investments. "It was clear to us that we had to take on this responsibility, because the future package is crucial for the competitiveness of the mountain railways. At the same time, however, we were also aware that we cannot and do not want to bear this responsibility alone - the strategic importance of the mountain railways is too great for that. We are therefore very pleased that we have succeeded in involving the municipality in the solution. In the future, we will share decision-making authority on the supervisory board with the municipality, even if the holding company has a majority share," explains Tom Egger, deputy chairman of the holding company's supervisory board.
“I would like to take this opportunity to expressly thank AÜW and EVK as well as the city of Kempten for giving us the opportunity to take over the shares and ensure the timely implementation of the future package,” emphasises Dr. Andreas Gapp, CEO of Walser Raiffeisen Holding.
Close cooperation with the mountain railways and the destination remains
The corporate realignment of the mountain railways in Kleinwalsertal has no impact on the operational cooperation in the region or within OK Bergbahnen. "The guest will continue to be offered the skiing experience from a single source. No matter which of our seven mountains the guest is on, he will experience the brand, the uniform quality promise of OK Bergbahnen. The cooperation in areas such as marketing, accounting and pricing will of course also remain, as will the close cooperation in the IG Skipass. As OK Bergbahnen, we are and will remain the destination's strong partner," continued Dr. Gapp.
