On August 3 Russian construction company VIS Group and China Railway Construction Corp signed an agreement to work together to implement transport infrastructure projects including metro lines in Russia and the Middle East. ‘The integration of our companies’ accumulated competencies in construction and infrastructure project financing will have a significant synergetic effect‘, said VIS Chairman Igor Snegurov.
Display and touch-screen technology company Review Display Systems has opened a US office in Milwaukee. ‘We already had clients in the US and it made sense to set up offices to continue the expansion of the company and to service our clients quickly and efficiently’, said RDS Managing Director Russell Gilbert. ‘We see the USA as a significant growth area in expanding the capabilities of our company and our engineering expertise.’
YFM Equity Partners has invested £4·5m from its managed funds in Collaborative Project Management Services, which provides project management services in the UK track, signalling, telecoms, civils and electrification sectors. Founded in 2012, CPMS now has 60 staff and annual revenue of almost £10m. Founders Matthew Baine, Damien Gent, Chris Mackie and Tim Galvini will continue to be the largest shareholders, being joined by Andrew Smith as Non-Executive Chairman. 'This is the seventh investment from YFM’s 2016 buyout fund, which closed in April 2017, and represents another strong example of investing in well-established regional businesses in the £2-10m investment market’, said YFM partner Jamie Roberts on August 6.
Sinara Transport Machines has commissioned a brake testing stand at its Novosibirsk Electric Locomotive Repair Plant, removing the need to send equipment to be tested at a facility in Omsk. ‘Installation of the test stand at the plant will lead to a reduction in the costly and time-consuming logistics link, help optimise costs and improve the quality of the work‘, said director Maxim Tsyganets.
On-track plant hire and labour services company Total Rail Solutions has opened a permanent office and yard space at Cwmbran near Newport in Wales. ‘TRS is on a journey of growth and investment’, said Chief Operating Officer Paul Bateman on August 7. ‘It makes sense to locate our next depot in a region where there is a commitment to long-term investment in rail infrastructure’, he said, pointing to Transport for Wales’ plans for the next Wales & Borders franchise.