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China: State moves forward with merging top-two train makers

By  |  December 3, 2014

China has decided to move forward with plans to merge the nation’s two largest train makers in an effort to create an entity that can better compete internationally, according to reports.

The deal would combine CSR Corp and China-owned China CNR Corp. State-run Zinhua News Agency said a draft merger proposal has been submitted to the State Council for debate.

Reports say the deal was first proposed to prevent “cut-throat” competition between the two train companies when vying for business overseas.

The new company will be named China Railway Rolling Stock Group and hold a greater position to rival global giants Siemens and Bombardier, according to reports.

Full content: Business Insider

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