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China: Railroad equipment manufacturers merge to form CRRC Corp

By  |  June 2, 2015

CRRC Corp was officially launched on June 1 with the completion of the merger of rolling stock manufacturers China CNR Corp and CSR Corp.

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    CRRC has inherited all the businesses and assets of CNR and CSR, which between than had a greater than 90% market share in China. CRRC says it is the ‘largest rolling stock supplier in the world’ with ‘the largest scale, most complete portfolio and advanced technology.’ It has 175 700 employees, with its headquarters in Beijing.

    Since 2009, China has built more than 10,000 kilometers of high-speed railroad lines, the most in the world, and now the government wants the rail equipment companies to sell bullet trains overseas. Chinese companies have not won any foreign contracts to export a bullet train so far.

    Full content: Caixin Online

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