Two of China’s biggest state-owned rolling stock manufacturers have decided to merge.
By joining together, China CNR and CSR Corp will create a global giant capable of competing with Siemens of Bavaria, Germany, and Canada’s Bombardier.
The new company will have an estimated annual revenue of $32.71 billion. The main customer remains the China Railway Corporation.
The move comes as China develops the world’s longest high speed rail network – built in less than 10 years. The new organisation will be looking to export technology and project management globally.