CRRC Corporation
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Native name
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中国中车股份有限公司 |
|---|---|
| public | |
| Industry | Manufacturing |
| Predecessor |
China CNR Corporation CSR Corporation Limited |
| Founded | 1 June 2015 |
| Headquarters | Beijing, China |
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Area served
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Worldwide |
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Key people
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President: Xi Guohua Chairman: Cui Dianguo |
| Products | |
| Owner | CRRC Group (54.18%) |
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Number of employees
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175,700 |
| Parent | CRRC Group |
| Website | www.crrcgc.cc |
CRRC Corporation Limited 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 Corporation 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 for metro cars for Massachusetts Bay Transportation Authority's Red and Orange lines with a $556.6 million bid 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.
In mid 2015 production began at a rolling stock plant in Batu Gajah, Perak, Malaysia, a satellite of Zhuzhou Electric Locomotive, and the corporation's first plant outside China. Additionally the former CSR Corporation Limited had acquired Emprendimientos Ferroviarios in Argentina in 2014 and announced in 2016 that they would begin maintenance and production of new rolling stock for export in the country. Argentina had previously purchased a variety of rolling stock from the company over the years, including 704 EMU cars, 81 DMU cars, 44 passenger locomotives, 360 carriages, 107 freight locomotives and 3,500 freight cars, in addition to the 150 200 Series cars for the Subte.
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Wikipedia