BERLIN, GERMANY--(Marketwire - Dec. 6, 2010) - Editors Note: A photo is included with this press release.
Bombardier and China's Ministry of Railways (MOR) today signed a Memorandum of Understanding (MoU) aimed at strengthening their strategic partnership in the development of various products and systems, including rolling stock and signalling solutions applied in mainline and regional railways for the market in China and internationally. The agreement was signed at the UIC High Speed Congress in Beijing by Mr Liu Zhijun, China's Minister of Railways and André Navarri, President and Chief Operating Officer, Bombardier Transportation.
Both parties agree to further collaborate on the development of the existing high speed and very high speed product platforms and to further extend this cooperation to other platforms if and when needed, such as regional trains. The agreement also establishes China Railway Signal and Communication Corporation as a strategic partner for Bombardier's highly advanced signalling systems, to jointly develop signaling products in order to meet the requirements of China and international markets.
André Navarri commented: "China has a clear vision of the critical role rail must play in sustainable economic development, and is making the strategic investments necessary to ensure that vision is realized. China is selecting state of the art technologies to build the most advanced rail network in the world. We offer one of the broadest product portfolios in the world. We are pleased to have worked closely with the MOR and our local partners in the past and look forward to working together in the development of new, game-changing technologies."
Jianwei Zhang, President and Chief Country Representative, Bombardier China said: "One of the most important considerations in successful business is partnership. Bombardier has been actively participating in the development of China's rail transportation providing a broad range of products, systems and services. This includes more than 4000 rail vehicles for various applications, signalling solutions for both very high speed rail and urban mass transit, locomotives, propulsion equipments and systems. Bombardier is very proud to be a long term strategic partner with the MOR."
About Bombardier in China
Bombardier's longstanding business relationship with China began 50 years ago. Including its three joint ventures, Bombardier currently employs over 4,000 people in China. In addition to its rail transportation operations, Bombardier is also one of the major suppliers to the Chinese regional aircraft market with an installed base of more than 30 aircraft in operation with five airlines. It is the top-ranked supplier of business aircraft to China as well. A detailed overview of Bombardier's presence in China is available at: www.cn.bombardier.com
About Bombardier Transportation
A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2010, were $19.4 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com
BOMBARDIER and ECO4 are trademarks of Bombardier Inc. or its subsidiaries.
www.theclimateisrightfortrains.com
To view the photo associated with this release, please visit the following link: http://www.marketwire.com/library/20101206-BBD800.jpg
http://www.marketwire.com/press-release/Bombardier-Chinas-Ministry-Railways-Sign-Multi-level-Strategic-Cooperation-Agreement-TSX-BBD.A-1364731.htm
Both parties agree to further collaborate on the development of the existing high speed and very high speed product platforms and to further extend this cooperation to other platforms if and when needed, such as regional trains. The agreement also establishes China Railway Signal and Communication Corporation as a strategic partner for Bombardier's highly advanced signalling systems, to jointly develop signaling products in order to meet the requirements of China and international markets.
André Navarri commented: "China has a clear vision of the critical role rail must play in sustainable economic development, and is making the strategic investments necessary to ensure that vision is realized. China is selecting state of the art technologies to build the most advanced rail network in the world. We offer one of the broadest product portfolios in the world. We are pleased to have worked closely with the MOR and our local partners in the past and look forward to working together in the development of new, game-changing technologies."
About Bombardier in China
Bombardier's longstanding business relationship with China began 50 years ago. Including its three joint ventures, Bombardier currently employs over 4,000 people in China. In addition to its rail transportation operations, Bombardier is also one of the major suppliers to the Chinese regional aircraft market with an installed base of more than 30 aircraft in operation with five airlines. It is the top-ranked supplier of business aircraft to China as well. A detailed overview of Bombardier's presence in China is available at: www.cn.bombardier.com
About Bombardier Transportation Bombardier Transportation, a global leader in rail technology, offers the broadest portfolio in the rail industry and delivers innovative products and services that set new standards in sustainable mobility. BOMBARDIER ECO4 technologies – built on the four cornerstones of energy, efficiency, economy and ecology – conserve energy, protect the environment and help to improve total train performance. Bombardier Transportation is headquartered in Berlin, Germany and has a presence in over 60 countries. It has an installed base of over 100,000 vehicles worldwide.
About Bombardier A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2010, were $19.4 billion US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at www.bombardier.com
BOMBARDIER and ECO4 are trademarks of Bombardier Inc. or its subsidiaries.
www.theclimateisrightfortrains.com
To view the photo associated with this release, please visit the following link: http://www.marketwire.com/library/20101206-BBD800.jpg
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