Tuesday, April 07, 2009

Wabtec forms joint venture for Chinese brake gear market

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Wabtec Corp. said Tuesday it has formed a 50-50 joint venture in China to manufacture brake equipment for the Chinese rail market. Wabtec’s domestic partner in the effort is Shenyang Locomotive and Rolling Stock Railways Brakes Co., Ltd., the largest manufacturer of locomotive and freight car brake equipment in China.

The joint venture company, Shenyang CNR Wabtec Railway Brake Technology Company, Ltd., will produce pneumatic control valves and other braking related equipment for freight car builders and overhaulers in China.

“This investment builds on our existing presence in China, the largest rail market outside of North America," said Wabtec President and CEO Albert J. Neupaver in a statement. "Our capabilities and technology will be valuable assets in this rapidly growing market."

"We expect to have a strong impact on the Chinese market through the joint venture's advanced technology, lean production, and high-quality products," said Fang Zhijian, chairman and president of Shenyang Locomotive and Rolling Stock Railways Brakes.