US rail equipment manufacturer Wabtec said it has entered into a joint venture with Shenyang Locomotive and Rolling Stock Railway Brakes to manufacture brake equipment for the Chinese market, AP reported. The 50-50 joint venture, Shenyang CNR Wabtec Railway Brake Technology, will produce pneumatic-control valves and other braking equipment. Shenyang Locomotive and Rolling Stock Railway Brakes is the largest manufacturer of locomotive and freight car brake equipment in China. Wabtec expects the joint venture will allow the firm to expand its presence in China. Spending on rail infrastructure was a highlight of Beijing’s US$586 billion stimulus package, announced last year.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved