China CNR Corporation

China CNR Corporation Limited
Native name
 中国北车股份有限公司
Limited company
Industry Rail transport
Predecessor China North Locomotive and Rolling Stock Industry (Group) Corporation (founded Sept 2000)[1]
中国北方机车车辆工业集团公司
Successor CRRC Corporation
Founded 2008
Defunct June 1, 2015 (2015-06-01)
Headquarters Beijing, China
Area served
 Worldwide
Key people
 Cui Dianguo (president)
Wang Ligang (Chairman)
Owner Majority State-owned enterprise
Website chinacnr.com

China CNR Corporation Limited (CNR; Chinese: 中国北车股份有限公司) (SEHK: 6199, SSE: 601299) formerly known as China North Locomotive and Rolling Stock Industry (Group) Corporation was a state-owned enterprise supervised by the State Council of the People's Republic of China. The company was a primary manufacturer of locomotives and rolling stock for the Chinese market. The company has also exported to over 80 countries and regions, including Australia, Turkey, New Zealand, Saudi Arabia, Hong Kong, Taiwan, Argentina, Brazil and France.[2][3]

In 2015, the company merged with CSR Corporation to form CRRC Corporation.

History

A CNR CKD8G train operated in Argentina for Trenes Argentinos.
A Buenos Aires Underground 200 Series car on Line A

In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres. In 2000 the China Northern Locomotive & Rolling Stock Industry (Group) Corporation (also known as China Beiche Group)[4] was formed from this group.[5] Its main competitor, the China South Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2002.[6]

"China CNR Corporation" carried out import and export orders between 1998 and 2005 through the LORIC Import & Export Corp., Ltd.[7] The subsidiary CNR Logistic Development Corp., Ltd., established in 1998 deals with export sales of CNR vehicles and parts.[8]

In 2008 the group was reorganised into the China North Locomotive and Rolling Stock Corporation Limited (or China CNR Corporation Limited)[5] with a minority shareholding contributed by China ChengTong Holdings Group and China Huarong Asset Management Corp.[4]

The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.[9][10]

From the early 21st century onwards the group began a strategic diversification into wind turbine manufacture - its first major new facility was a 500 turbine per year capacity factory in Songyuan, (built 2009-11), established through CNR Wind Power Co.. The company expects to invest ~35billion Yuan in CNR Wind Power to establish a full scale wind power industry.[11][12]

In 2013, the company began providing underground cars for Line A of the Buenos Aires Underground in Argentina, with the 150 cars to make up the entirety of the line.[13] That same year, the company delivered 20 locomotives and 220 coaches to the country for Trenes Argentinos' long distance broad gauge rolling stock.[14]

CNR company began delivering 81 Diesel Multiple Units in 2015 for the Belgrano Sur Line in Buenos Aires, operated by Trenes Argentinos.[15]

In October 2014, CNR made a major breakthrough into the North American market by winning a $567 million contract to supply 284 metro cars for the Massachusetts Bay Transportation Authority's Orange and Red lines, with an option for 58 more. CNR plans to dedicate two manufacturing lines at a Chinese facility and build a 150,000 square-foot facility in Springfield, Massachusetts for final assembly of the vehicles.[16][17]

At the end of 2014 CNR and rival CSR announced their intention to merge, with CSR acquiring CNR shares at a ratio of 1 CNR : 1.1 CSR; the resultant company (value ~$26billion) was to be named China Railway Rolling Stock Corp (CRRC).[18][19] The two companies formally merged on 1 June 2015.[20]

Manufacturing and research subsidiaries

The corporation has numerous subsidiaries at various sites in China:[21]

References

  1. ↑ China Northern Locomotive & Rolling Stock Industry (Group) Corporation www.chinesemol.com
  2. ↑ "Company Profile". Official website of CNR. Retrieved 16 May 2015.
  3. ↑ "Worldwide Export History". Official website of CNR. Retrieved 16 May 2015.
  4. 1 2 George Gao (18 July 2008). "China North Locomotive to have IPO in year end". autonews.gasgoo.com.
  5. 1 2 Sources:
    "China CNR Corporation Limited - About CNR - History". www.chinacnr.com.
    中国北车股份有限公司 - 公司介绍 - 公司历史. www.chinacnr.com (in Chinese).
  6. ↑ "CSR Corporation Limited : History". www.csrgc.com.cn.
  7. ↑ "China CNR Corporation Limited - Worldwide-LORIC". www.chinacnr. Retrieved 6 February 2011.
  8. ↑ 中车进出口有限责任公司_公司介绍_成员企业_中国北车股份有限公司. www.chinacnr.com (in Chinese). Retrieved 6 February 2011.
  9. ↑ China CNR gets greenlight for its IPO , (Xinhua) , 22 August 2009 , www.chinadaily.com.cn
  10. ↑ Chinese train maker CNR's IPO gets off to slow start , Reuters , 29 December 2009 , via www.telegraph.co.uk
  11. ↑ 中国北车风电产业园在济南奠基开工, www.chinacnr.com (in Chinese), 8 September 2009
  12. ↑ 中国北车松原风电产业园全面开工, www.chinacnr.com (in Chinese), 10 May 2011
  13. ↑ New metro cars in Buenos Aires - Railway Gazette, 28 August 2015.
  14. ↑ CNR ships passenger fleet to Argentina - Railway Gazette, 24 March 2013.
  15. ↑ First Belgrano Sur DMUs arrive - Railway Gazette, 8 July 2015
  16. ↑ "Coming to a Boston Subway Near You: Made-in-China Trains". Bloomberg Business. 23 October 2014. Retrieved 16 May 2015.
  17. ↑ Chim, Sau-wai (24 October 2014). "CNR joint venture wins US$556.6 million Boston subway car contract". South China Morning Post. Retrieved 16 May 2015.
  18. ↑ "CNR and CSR agree merger terms", www.railwaygazette.com, 31 Dec 2014
  19. ↑ "Rival China trainmakers merge to boost high-speed rail push abroad", www.reuters.com, 30 Dec 2014
  20. ↑ Briginshaw, David (1 June 2015), "CNR and CSR finalise merger to become CRRC", www.railjournal.com
  21. ↑ "China CNR Corporation Limited - About CNR - Subsidiaries". www.chinacnr.com. Retrieved 6 February 2011.

External links

Wikimedia Commons has media related to China CNR Corporation.
This article is issued from Wikipedia - version of the Saturday, February 27, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.