CHINA: Wabtec Corp and Shenyang Locomotive & Rolling Stock Railways Brakes Co have established Shenyang CNR Wabtec Railway Brake Technology Co as a 50:50 joint venture producing pneumatic control valves and other braking equipment for the Chinese rail market.
'We expect to have a strong impact on the Chinese market through the joint venture's advanced technology, lean production and high-quality products', said Fang Zhijian, Chairman & President of the Chinese partner.
USA: Wabtec Corp announced on March 24 that it is to supply components worth $75m for a further 382 R160 metro cars being built for New York. The vehicles were ordered from Alstom and Kawasaki last November in a $784m second option exercised by New York Metropolitan Transit Authority. ...
CHINA: Beijing Wabtec Huaxia Technology has been established as a joint venture of US firm Wabtec and Beijing Huaxia United Friendship New Technology of Electrification Development Co, a local supplier of rail braking components. The company will manufacture friction products for the customers in China. 'The Chinese market ...
USA: On December 8 Wabtec Corp said it had completed the $300m acquisition of Standard Car Truck announced on September 15. SCT expects to report sales of $225m in 2008, and Wabtec said it expects the transaction to be accretive in the first year, although the recognition of non-cash, purchase ...
USA: Construction of the Texas Central high speed line linking Houston with Dallas is expected to start in the coming months following completion of the regulatory approval process. This concluded on September 21 when the Federal Railroad Administration released a pre-publication version of its final ...
ZIMBABWE: National Railways of Zimbabwe’s decision to terminate a US$400m recapitalisation agreement is being challenged in court by the Diaspora Infrastructure Development Group, which is seeking damages worth US$236m. In mid-September, DIDG instructed its lawyers to sue NRZ and Transport Minister Joel Biggie Matiza following the ...
USA: The board of the California High-Speed Rail Authority on September 10 approved the Final Environmental Impact Statement for an 80 km section of the planned high speed railway between Merced and Fresno, known as the ‘Central Valley Wye’. The formal approval means that environmental clearance ...
