Rail

Bombardier unit to buy Russian signaling co.

Posted on December 13, 2010

Bombardier's BT Signaling B.V. signed an agreement to purchase a stake in the signaling equipment manufacturer United Electrical Engineering Plants, known as Elteza, which is a subsidiary of Russian Railways (RZD).

Initially, BT Signaling B.V. will purchase a 25 percent stake in Elteza. Following further approval, BT Signaling B.V. will increase its stake to nearly 50 percent. RZD will remain the majority shareholder.

Elteza is Russia's largest signaling equipment producer with more than 3,000 employees across seven manufacturing sites. The company focuses on the design, development and production of rail signaling equipment and automatic and remote train control systems, which have been delivered in Russia, the Commonwealth of Independent States (CIS) and the Baltic states.

The new partnership will be one of the first successful examples of the privatization of a Russian Railways' subsidiary and part of the modernization strategy of RZD.

Completion of this transaction is subject to the approval of all required governmental authorities and to other consents and other usual conditions. The transaction is expected to be completed during the first quarter of 2011.

View comments or post a comment on this story. (0 Comments)

More News

Alstom debuts world's first hydrogen train entering passenger service

The zero-emission Coradia iLint, which debuted in Lower Saxony, Germany, can reach up to 140 km/h (90 mph).

WMATA announces contracting opportunity for Silver Line extension

Under the agency's plan to "Keep Metro Safe, Reliable and Affordable," the use of competitive contracting is recommended as a way to control operating and maintenance costs

Amtrak Pacifc Surfliner, MLB team up for rail safety awareness

Partners with San Diego Padres, Los Angeles Angels and California Operation Lifesaver to highlight the importance of safety around train tracks.

Zmudzinski to lead national rail systems at WSP

Will lead the firm’s transit and rail systems engineering team and support business development across the U.S.

4 teams submit design-build bids for Foothill Gold Line light rail project

Includes technical approach to completing the design and construction of the project, their management method, and financial bid.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation