China Railway Rolling Stock Corporation (CRRC) may seek acquisitions in order to expand on the Brazilian rail market, informs Technologistica. CRRC is interested in acquiring a Brazilian company and in launching rail equipment manufacturing activities locally, Vice-President Jun Wang said. In spite of the fact that road transport is predominant in the country, the company believes in the competitive potential of railways in the future.
“We are a modern company and since we are present in Brazil we want to act as a Brazilian company, a local company and contribute to the economic development. There are several ways to do this, to start local production, to work together with Brazilian companies or even to introduce new production technologies from China, ” he explained.
CRRC is currently represented in Brasil by local company DAG Railway.
In H1 2016, the total volume of CRRC’s new overseas orders amounted to 14.88 billion Yuan ($2.24 billion), an increase of 126 percent year on year. For H2 of 2016, the company has in plan to explore more markets, reduce costs, improve efficiency and support innovation.