Bombardier and CRRC sign strategic agreement to deepen cooperation
26 September 2016 • Author: Katie Sadler, Digital Content Producer, European Railway Review
Bombardier Transportation and China Railway Rolling Stock Corporation (CRRC) have signed a strategic cooperation agreement to strengthen its partnership on projects in the Chinese and international rail markets.
The agreement, signed in Montréal by CRRC President Xi Guohua and Alain Bellemare, President and Chief Executive Officer, Bombardier Inc., will help further strengthen the relationship between the two parties in relation to cooperation on projects in Chinese and international rail markets. The ceremony took place during Chinese Premier Li Keqiang’s state visit to Canada.
Bombardier and CRRC to leverage complementary strengths for selected projects
According to Bombardier, 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.
Commenting on the agreement Alain Bellemare said: “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.
“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.”
Bombardier Transportation has already established six joint ventures and seven wholly foreign-owned enterprises in China. Of those, three have been with subsidiaries of CRRC in China, manufacturing high speed trains, metro trains, monorails and other urban mass transit vehicles.