Vossloh is awarded contract from China worth €166 million for high-speed rail fastening systems
A consortium of bidders headed by Vossloh has been awarded initially one megacontract by the Chinese Rail Ministry for high-speed rail fastening systems. Worth a total of 1.676 billion yuan renminbi (around €166.2 million), the award is the outcome of an invitation to bid issued in June 2006 for the planned Wuhan–Guangzhou and Guangzhou–Shenzhen rail lines. The related contracts will be signed over the coming weeks, with shipments to start in 2007 and 2008 from a production plant in China set up through a joint venture in which Vossloh will hold a stake of around two-thirds.Successful access into the China market
On August 31, 2006, the very same consortium had already clinched a contract for rail fastening systems worth 191 million yuan renminbi (around €19.1 million) for the Olympic Beijing–Tianjin line. Vossloh’s CEO Dr. Gerhard Eschenröder high-lights: “These contracts represent the successful completion of Vossloh’s planned access into the Chinese market as one major step of further internationalizing the Group´s business acitivities. Their magnitude underscores the high confidence that our products also enjoy in the attractive Chinese market.”
Werdohl, September 18, 2006
Media Contact:
Nikolai Juchem
Hering Schuppener Consulting
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IR Contact:
Werner Andree
Vossloh AG
Phone : +49 (0) 2392-52-407
Email : werner.andree@ag.vossloh.com