CRRC
 |
|
|
Native name
|
中国中车股份有限公司 |
|---|---|
| Public | |
| Traded as |
|
| Industry | Manufacturing |
| Predecessor |
China CNR Corporation CSR Corporation Limited |
| Founded | 1 June 2015 |
| Headquarters | Beijing, China |
|
Area served
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Worldwide |
|
Key people
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President: Xi Guohua Chairman: Liu Hualong |
| Products | |
| Owner | CRRC Group (54.18%) |
|
Number of employees
|
175,700 |
| Parent | CRRC Group |
| Website | www.crrcgc.cc |
CRRC Corp., Ltd. (Chinese:中国中车股份有限公司) is a Chinese publicly traded rolling stock manufacturer, formed on 1 June 2015 with the merger of China CNR Corporation and CSR Corporation Limited.
At inception it had 175,700 employees, and is the largest rolling stock manufacturer in the world.
The parent company of CRRC Corp., Ltd. is CRRC Group, a state-owned enterprise that was supervised by the State-owned Assets Supervision and Administration Commission of the State Council.
China CNR Corporation and CSR Corporation Limited, once one company, were separated in 2000.
In late 2014 CNR and CSR agreed to merge, subject to approval by the Chinese state - under the agreement CSR would formally acquire CNR, and the combined business then be renamed China Railway Rolling Stock Corp (CRRC). Rationals given for the merger were increased efficiency, and the ability to better compete internationally with combined resources.
The merger came into effect 1 June 2015, with each CNR share exchanged for 1.1 CSR shares - the combined company became the largest railway rolling stock manufacturer in the world, and had over 90% of the China market. Total employment of the combine was 175,700 persons, and the share capital was valued at 27,289 million Yuan.
After formation, CRRC began efforts to expand overseas; after being awarded a 284 vehicle order (since expanded to 404 vehicles) for metro cars for Massachusetts Bay Transportation Authority's Red and Orange lines with a $556.6 million bid in October 2014, the company began work on a 13,900 square metres (150,000 sq ft) assembly plant in Springfield, Massachusetts at a former Westinghouse plant, ground breaking on the new plant took place in September 2015.
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Wikipedia