Alstom Acquires Transmashholding Capital
Alston and Transmashholding (TMH), a Russian railway equipment manufacturer, have signed a strategic partnership agreement in which Alstom will acquire a 25% plus 1 shared of TMH's parent company, Breakers Investment BV.
A master agreement was signed by both companies to specify the terms according to which their joint activities in developing and manufacturing new rolling stock and components for railway equipment are to be carried out.
Alstom's acquisition is subject to certain conditions. When these conditions have been met, Alstom will make an initial payment of US$75 million to TMH with the balance paid in 2012. Under the terms and conditions of the strategic partnership agreement signed on 31 March 2009, a representative of Alstom Transport was appointed Transmashholding’s new deputy managing director.
A joint engineering company, Tekhnologii Relsovogo Transporta (TRT), has been set up and registered in Russia. The company will design and manufacture railway system equipment and components, integrating the latest technologies developed by Alstom Transport and TMH. This engineering center is working on an electric passenger locomotive, the EP-20, capable of speeds of up to 200 km/h, to serve as a template for a future range of new Russian locomotives for various uses, said the company.
For more information: www.alstom.com