The company was established in 1985 when the Finnish engineering firm
Rautaruukki started manufacturing
freight wagons in
Otanmäki and
Taivalkoski. In 1991 the railway
rolling stock works of
Valmet (in
Tampere), which specialized in the manufacture of
carriages and
locomotives, was merged with Transtech. In 1998 Rautaruukki sold the Taivalkoski factory to Telatek Oy, retaining the Otanmäki plant. In June 1999 Rautaruukki sold Transtech to
Patentes Talgo SA of
Spain, but was subsequently sold to the Finnish group Pritech Oy in March 2007. During the period of Spanish ownership, the company was known as
Talgo Oy, but has reverted to its previous name. In August 2015
Škoda Transportation bought a 75% stake in the company, purchasing the remaining 25% in May 2018 and rebranding it Škoda Transtech in October 2018. == Rolling stock ==