LONDON, Monday, September 20th 2010 [ME NewsWire]:
(BUSINESS WIRE)-- Invensys Rail, a global leader in train control and signalling and a division of the technology group Invensys plc, has entered into significant agreements with a division of CSR Corporation Ltd (CSR), a leading Chinese manufacturer of rolling stock.
Under the terms of the agreements, Invensys Rail will licence Zhuzhou CSR Times Electric co. Ltd., (TEG), CSR’s train control and signalling company, to manufacture and sell its class leading interlocking solution, Westrace, in China. TEG and Invensys will work together to sell their broader train control and signalling solutions through TEG into the expanding Chinese domestic mass transit market, worth an estimated €670m a year (source: UNIFE) and CSR’s rolling stock companies and Invensys Rail will jointly bid a number of major international contracts.
Invensys Rail will become CSR’s exclusive signalling supplier on an agreed set of global projects that combine rolling stock and signalling solutions. Initial projects are in mass transit and span the Middle East, India and South East Asia.
Commenting on the agreement James Drummond, CEO of Invensys Rail said:
“China is a strategically important market for us. The country is investing heavily in its railway infrastructure and represents a significant growth opportunity for us in Asia. We are therefore delighted to enter into these agreements with CSR and TEG, who are not only key players in China but are becoming an increasing force in the global railway market.”
“China is a strategically important market for us. The country is investing heavily in its railway infrastructure and represents a significant growth opportunity for us in Asia. We are therefore delighted to enter into these agreements with CSR and TEG, who are not only key players in China but are becoming an increasing force in the global railway market.”
Ulf Henriksson, CEO of Invensys plc, said:
“I welcome the signing of these agreements with CSR and TEG as they represent a new business model that allows us to gain greater access to the significant rail infrastructure and mass transit investment in China and elsewhere in the world. The combination of our train control and signalling technology and CSR’s expertise and efficiency in rolling stock manufacture will create a very competitive offering to rail operators around the world.”
Invensys Rail, a division of the global technology company Invensys plc, employs over 4,000 people and is operational in over 30 countries around the world delivering state of the art railway control and communication solutions.
For more information on Invensys Rail's systems and capabilities visit www.invensysrail.com
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