CHINA: China's largest railway and metro vehicle manufacturer raised 13·9bn yuan with an IPO in Shanghai in December. Beijing-based China Northern described it as 'a milestone in the development of CNR', which is particularly strong in the production of metro cars. CNR sold 2·5 billion shares at 5·56 yuan, the top of its indicated price range.
The funds will be used to boost production, as the company expects China to spend 5000bn yuan on railway expansion by 2020.
POLAND: PKP Cargo has announced plans for a joint venture with China Northern which would assemble railway wagons at a site in Szczecin. A feasibility study will be completed within three months, Daniel Ryczek, PKP Cargo's director of International Affairs, said on December 10. If this finds that assembly ...
CHINA: The Ministry of Railways has placed three orders for a total of 280 high speed trainsets and 400 freight locomotives. Knorr-Bremse is to supply subsystems worth €500m for one of the high speed contracts in the company's largest ever order. China Northern signed a 40·8bn yuan contract on ...
CHINA: CNR Tangshan Railway Vehicle Co has announced the start of tests of a domestically produced magnetic levitation train for medium and low-speed urban applications up to 120 km/h. The prototype has been developed by China Northern in conjunction with Beijing Enterprises Holdings Maglev Technology Development Co and the ...
