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Bombardier Transportation And Transmashholding Establish Engineering Joint Venture To Develop New Generation Locomotives

May 21, 2008 Berlin Transportation,  Press Release

Bombardier Transportation and Transmashholding today announced that they have signed an agreement to establish a new joint venture to develop a new family and new generation of locomotives using asynchronous propulsion technology.

The agreement was signed at the Third International Rail Business Forum in Sochi, by Wolfgang Tölsner, Chief Operating Officer, Bombardier Transportation, and Andrey Andreev, acting General Director, ZAO “Transmashholding”, in the presence of the President of ОАО “Russian Railways” (RZD) Vladimir Yakunin. Bombardier Transportation is the global leader in the production of electric locomotives. Transmashholding is the major supplier of rolling stock for the Russian railways.

The new joint company will be located in Russia. Each party to the agreement will have an equal share and equal rights. The main task will be the development of new locomotives for the Russian and CIS markets, as well as for export to new markets. Transmashholding is confident that the combination of Russian design experience with Bombardier’s technological know-how as the world leader in rail engineering and manufacturing will achieve significant results in the near term.   

The creation of a new engineering joint venture to develop locomotives is a consistent progression in the cooperation that started between the companies last year. On May 25, 2007, an agreement was signed in Sochi for the establishment of two joint ventures. These included the development of advanced propulsion technology for railway equipment and the production of key components for electric locomotives - traction converters based on Bombardier’s proven MITRAC propulsion technology.

During the course of 2007, Bombardier Transportation Transmashholding AG, was formed as the managing company,  followed by the establishment of two subsidiaries: Transmashholding Bombardier Transportation (Engineering) Rus" (engineering center) and "Transmashholding Bombardier Transportation (Industrial) Rus" (converter manufacturing JV).

The Russian market for traction power rolling stock is one of the largest in the world. In 2007 72.5% and 84.2% of RZD’s electric and diesel locomotives respectively had exceeded their operating life. RZD’s anticipated demand for all types of locomotives amounts to 11,675 vehicles for the period of 2008-2015 and a further 11,722 vehicles for the period of 2016 – 2030.

“OAO RZD has strict requirements for its suppliers, guided by the most advanced technical solutions”, said Andrey Andreev, the acting General Director of ZAO Transmashholding. ”We hope that our cooperation with Bombardier Transportation will enable the company to manufacture products to meet the current and future demand of the railway operators”.

André Navarri, President of Bombardier Transportation stated: “Bombardier has a long and successful track record in strategic partnerships in Russia.  A number of very productive joint ventures have already been established with Russian Railways and Transmashholding. The establishment of a new company to develop a family of new generation locomotives is a further example of our intention to expand long-term partnerships with Russian industry”.

Background facts and figures

About Bombardier in Russia
Since the nineties Bombardier Transportation has successfully developed partnership with the leading Russian customers and partners and has steadily increased its industrial presence in Russia. OAO "Bombardier Transportation (Signal)", the Moscow-based joint venture with RZD, has managed the assembly, programming and commissioning of BOMBARDIER EBI Lock 950 computer-based interlocking systems for over 12 years. Some 70 Russian railway stations have already been equipped with this system and the joint venture has supplied its products to CIS countries, Baltic States, Slovakia and Turkey. Two joint ventures on developing and manufacturing propulsion equipment were established with Transmashholding in 2007.

About Bombardier Transportation
Bombardier Transportation has its global headquarters in Berlin, Germany with a presence in over 60 countries. It has an installed base of over 100,000 vehicles worldwide. The Group offers the broadest product portfolio and is recognized as the leader in the global rail sector.

About Bombardier
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were $17.5 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com.

About Transmashholding
CJSC Transmashholding is the largest Russian manufacturer of rolling stock and related equipment and supplier to the largest global operator JSC Russian Railways. It manufactures diesel shunters and main-line diesel locomotives, electric industrial and main-line locomotives, freight wagons and passenger coaches, car casting, diesel engines for diesel-electric locomotives and vessels, multiple train units, metro cars, door modules, drivers’ cabs, car bodies, auxiliary static converters, public service vehicles. With a staff of 55,000 employees and a volume sales exceeding US$ 2,75 billion in 2007, the products of the company can be found in various countries outside of Russia, including Europe, Asia and Africa.

BOMBARDIER, MITRAC and EBI are trademarks of Bombardier Inc. or its subsidiaries.

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