New Joint Venture Formed In Russia
Knorr-Bremse 1520 to manufacture rail vehicle brake technology products
Knorr-Bremse 1520 will manufacture rail vehicle brake technology products to be used in Russia and other CIS countries.
Knorr-Bremse announced the founding of a new joint venture in Russia with Federal Cargo Co. (FGK), a subsidiary of Russian Railways RZD, under the name Knorr-Bremse 1520.
The company explained that the name derives from the Russian track gauge of 1520 mm and that the joint venture will manufacture rail vehicle brake technology products to be used in Russia and other CIS countries.
The new joint venture is based in the city of Tver, some 170 km north of Russia’s capital city, Moscow, where a new factory is being built with almost 16 000 m2 of production space and a total investment of €26 million. The plant should be completed in 2014 and its operation will require 400 new jobs.
Knorr-Bremse 1520 has already started manufacturing activities in Knorr-Bremse’s existing plant in Voronezh. The entire production operations will be transferred to Tver as soon as the new plant is completed.