CHINA's train maker China Railway Rolling Stock Corporation (CRRC) has gained control of one-quarter of the European diesel-locomotive market in a single purchase costing less than EUR10 million (US$11 million)
CHINA's train maker China Railway Rolling Stock Corporation (CRRC) has gained control of one-quarter of the European diesel-locomotive market in a single purchase costing less than EUR10 million (US$11 million). The acquisition of Germany's Vossloh AG provides CRRC with a major position in a region where rail travel is ousting cars and planes faster than anywhere else, said Bloomberg.
CRRC's Zhuzhou Locomotive will take over a Vossloh factory in Kiel that employs 500 and has supplied 25 per cent of the European diesel market over the past five years, according to research from SCI Verkehr.
'The plant has to reinvent itself in order to find and expand its place in the future landscape of rail vehicle manufacturers,' SCI's Maria Leenen said.
CRRC became the No 1 rolling-stock manufacturer through a merger of China's northern and southern train makers in 2015, the same year that Vossloh sold its Spanish locomotive unit to Stadler Rail AG.
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