Railway supply industry news round-up
CRRC and Voith Group have signed a strategic cooperation agreement covering areas including R&D and design.
Alstom, Industrial Development & Renovation Organization of Iran and Iranian Rail Industries Development Co signed an agreement on July 23 defining the terms for the potential formation of a joint venture to produce urban and suburban rolling stock in Iran.
On July 25 Wabtec announced Q2 sales of US$932m, up 29% on the same quarter last year. Higher sales in the Transit Group more than offset lower sales in the Freight Group, and Transit sales also increased owing to the acquisition of Faiveley Transport. Freight sales were affected mainly by lower revenues from wagon and locomotive components, and a slower-than-expected ramp-up of certain projects.
ASSA ABLOY's is making a 'significant investment' in lock maker Pickersgill-Kaye's Leeds plant, which is to be its dedicated R&D facility and rail centre of excellence.
Titagarh Firema Adler has been renamed Titagarh Firema, following Titagarh Wagons' purchase of the 10% stake which had been held by Adler Plastic. The registered office has moved from Milano to Caserta.
New CEO aims to get Pesa back on track
POLAND: Rolling stock manufacturer Pesa is to announce a new strategy in the first quarter of this year, following the supervisory board's decision to appoint the management board's Vice-President of Operations Krzysztof Zdziarski as Chief Executive on January 8. Robert Tafiłowski was appointed as Chief Financial Officer. ...
RJ Corman Railroad Group has announced the closure of its RJ Corman Railpower Locomotives business in Erie, Pennsylvania, with effect from February 29. RJ Corman had acquired the assets of the Railpower genset locomotive business in 2009, but on January 8 this year it ...
Beijing-Shanghai High Speed Railway Co IPO raises 30·7bn yuan
CHINA: Beijing-Shanghai High Speed Railway Co Ltd made its debut on the Shanghai Stock Exchange on January 16, following one of the biggest mainland Chinese IPOs of the past decade. The sale of 6·29 billion shares, about 12·8% of the total, at 4·88 yuan per share, raised ...
Indian rolling stock and construction equipment manufacturer BEML and construction firm Ircon International have signed a memorandum of understanding to explore opportunities to co-operate in export markets. Ircon said it had a 'strong International presence and proven capabilities' in tracklaying, electrification and infrastructure construction, including ...
Wabtec expands capabilities with purchase of RELCO Locomotives
USA: Wabtec Corp has announced the expansion of its remanufacturing and repair capabilities with the acquisition of RELCO Locomotives for $29m. RELCO Locomotives is an established company in the leasing, rebuilding, and repair sector, with operations in Albia and Cedar Rapids, Iowa. It has projected sales ...
Pension investor takes stake in Alpha Trains
EUROPE: Arcus European Infrastructure Fund 1 has sold its 41·1% stake in rolling stock leasing company Alpha Trains to Dutch investment group APG. Alpha Trains has a portfolio of 363 locomotives and 432 trainsets leased to operators in 17 countries including Germany, France, Italy, Spain and ...