Bombardier’s joint venture wins contract to build 120 new Chinese standard high-speed train cars

• Contract further strengthens joint venture’s position in China’s evolving high-speed rail market
• All 120 cars to be delivered before the end of the year

BERLIN, Oct. 01, 2018 (GLOBE NEWSWIRE) -- Rail technology leader Bombardier Transportation announced today that its Chinese joint venture, Bombardier Sifang (Qingdao) Transportation Ltd. (BST), has been awarded a contract, at the end of September, with China Railway Corp. (CRC) to supply 120 CR400AF new Chinese standard high-speed train cars for China’s evolving high-speed rail network. The 120 cars will be configured into five 8-car trainsets and five 16-car trainsets with an operating speed of 350 km/h. The total contract is valued at approximately 2.2 billion CNY ($324 million US, 280 million euro). Bombardier Transportation owns 50% of the shares in BST, which is consolidated by Bombardier Transportation’s partner CRRC Sifang Co., Ltd.

Jianwei Zhang, President, Bombardier Transportation China, said, “We are very proud to be qualified, through the joint venture BST, to supply the new generation of high-speed railway CR400. In China, high-speed trains have changed people’s life dramatically, it helps to close the distance between villages and cities, bridge the gaps between rural and urbans, and speed up the economic growth.  CRC is one of Bombardier’s most important customers and also our long term strategic partner. We are confident to deliver high-quality products and work more closely with CRC to further contribute to the Chinese economy.”

BST won this contract to build five 8-car trainsets and five 16-car CR400AF high-speed trains with first delivery in October, and all the delivery by the end of this year. The delivery within three months reflects the confidence the customer has in BST's high efficiency and competitiveness. That also demonstrates why BST was awarded its first new generation of high-speed train order.

Bombardier Transportation in China is the full solution provider across the entire value chain. From vehicles and propulsion to services and design, Bombardier Transportation in China has six joint ventures, seven wholly foreign-owned enterprises, and more than 7,000 employees. Together, the joint ventures have delivered more than 3,500 railway passenger cars, 580 electric locomotives and over 2,000 metro cars, Monorail, APM (Automated People Mover), and trams to China’s growing urban mass transit markets. Through its joint ventures, Bombardier also provides propulsion and signaling systems to third party metro car builders for use in more than 30 Chinese cities.

About Bombardier Transportation
Bombardier Transportation is a global mobility solution provider leading the way with the rail industry’s broadest portfolio. It covers the full spectrum of solutions, ranging from trains to sub-systems and signalling to complete turnkey transport systems, e-mobility technology and data-driven maintenance services. Combining technology and performance with empathy, Bombardier Transportation continuously breaks new ground in sustainable mobility by providing integrated solutions that create substantial benefits for operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 39,850 people and its products and services operate in over 60 countries.

About Bombardier
With over 69,500 employees across four business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montreal, Canada, Bombardier has production and engineering sites in 28 countries across the segments of Transportation, Business Aircraft, Commercial Aircraft and Aerostructures and Engineering Services. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2017, Bombardier posted revenues of $16.2 billion US. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

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