Bombardier Transportation and China Railway Rolling Stock Corporation (CRRC), have signed a strategic agreement to expand and deepen their relationship.
The agreement establishes a framework for the companies to leverage their complementary strengths for selected projects in order to provide additional value to customers, better serve the growing global rail transportation equipment market and support mutual long-term growth objectives. Areas of potential future cooperation include Chinese and international market development and shared manufacturing resources.
The agreement was signed in Montréal by CRRC President Xi Guohua and Alain Bellemare, President and Chief Executive Officer, Bombardier Inc., during Chinese Premier Li Keqiang’s state visit to Canada.
“We have been working closely with CRRC since 1998 and are very pleased to have reached this latest milestone in our relationship in order to provide Chinese and global customers a more competitive and broader range of rail transportation solutions,” said Alain Bellemare. “Together with CRRC, we are looking forward to delivering greater mobility to the people of China as well as to other countries and cities developing their transportation systems with the latest technologies and shortest time to market.”
With six joint ventures and seven wholly foreign-owned enterprises, Bombardier Transportation has a strong presence in China, where it is recognized as the most successful foreign rail transportation company. It has actively participated in the development of China’s rail transportation infrastructure and provided world class products. Among the six joint ventures, three have been with subsidiaries of CRRC in China, manufacturing high speed trains, metro trains, monorails and other urban mass transit vehicles. Together, the joint ventures have delivered more than 3,000 high speed railway passenger cars and more than 2,000 metro cars to the Chinese market. This newly-signed strategic agreement is the latest step in strengthening a successful partnership and better supporting the international rail market.