United Wagon Company and Wabtec Сorporation sign JV agreement
As part of the Fourth International Rail Salon of Engineering and Technologies EXPO 1520, United Wagon Company (UWC) and Wabtec Corporation (USA), a leading global producer of railcar brake systems and related products, have signed a JV agreement to introduce the latest technology in heavy haul railway components into the Russian and CIS freight railroading market.
The joint venture will develop and produce world class railcar products, including heavy haul railway components. The partners plan to start production in Tikhvin, the Leningrad Region in 2014. The main consumers of the products will include the Tikhvin Car Building Plant as well as other railcar manufacturing and railcar repair companies.
Initially, components will be supplied to the Russian market from USA. Over the next few years, the technologies and the production of components will be localized. The JV will hold certain intellectual property rights to these innovated designs.
Al Neupaver, Chairman and CEO at Wabtec Corporation, states: «The partnership between our companies will make a meaningful contribution to the further development of the Russian car building industry and we are excited about the opportunity to participate in the Russian and 1520 gauge freight rail market”.
Roman Savushkin, General Director at United Wagon Company, managing company of CJSC “Tikhvin Freight Car Building Plant” and leasing company “RAIL1520” LLC, emphasizes: “Our cooperation aims at accumulation of expertise and taking advantage of JV benefits. The components that we will supply into the market in the near future will improve car operational characteristics and transportation safety. Certainly, in our cooperation we focus on development of heavy haul railway technologies. We see it as great prospects both for our companies and for development of the whole Russian railway industry. Our goal in near future is to provide the increasing market demand for innovative railway components”.
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