Wabtec Corp. is expanding its presence in China's rail marketplace through a new joint venture to manufacture brake equipment.
The new 50-50 joint venture, announced April 7, involves Wabtec and Shenyang Locomotive and Rolling Stock Railways Brakes Co. Ltd., the largest manufacturer of locomotive and freight car braking equipment in China. The joint venture company to be called Shenyang CNR Wabtec Railway Brake Technology Company, Ltd. will make pneumatic control valves and other braking related equipment for freight car builders and rebuilders in China.
"This investment builds on our existing presence in China, the largest rail market outside of North America," noted Albert J. Neupaver, Wabtec's president and chief executive officer.