Tognum, TMH to set up JV to manufacture diesel locomotive engines

Tognum, TMH to set up JV to manufacture diesel locomotive engines

MOSCOW. June 7 (Interfax) – German Tognum and Russian TransMashHolding (TMH) (RTS: TRMH) will set up a joint venture to manufacture diesel locomotive engines.

“The terms are being discussed. I think it will be 50-50 [ownership],” Russian Railways (RZD) (RTS: RZHD) Senior Vice President Valentin Gapanovich said in Moscow on Tuesday at the closing meeting of the United Railroad Equipment Manufacturers organization.

RZD participated in the working group on joint design of the new engine, although the Russian rail monopoly will not have a stake in the JV, he said.

diesel-locomotive

Source : business.highbeam

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