China CNR Corporation

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China CNR Corporation Limited
Native name
中国北车集团
Limited company
Industry Rail - locomotive and rolling stock manufacturing
Predecessor China North Locomotive and Rolling Stock Industry (Group) Corporation (founded Sept 2000)[1]
中国北方机车车辆工业集团公司
Founded 2008
Headquarters Beijing, China
Key people
President: Cui Dianguo
Chairman: Mr. Wang Ligang
Owner majority State-owned enterprise
Website www.chinacnr.com
A CNR train operating in Argentina for SOFSE.

China CNR Corporation Limited (CNR; Chinese: 中国北车集团) (SEHK6199, SSE: 601299) formerly known as China North Locomotive and Rolling Stock Industry (Group) Corporation is a state-owned enterprise supervised by the State Council of the People's Republic of China. The company is primarily a manufacturer of locomotives and rolling stock for the Chinese market. The company has also exported to Angola, New Zealand, Malaysia, Nigeria, Tanzania, and Cuba.[2]

At end 2014 CNR and rival chinese rail firm CSR announced the intention to merge. The company is overseeing the construction of China's first domestically built maglev trains for the Beijing S1 Line.[3]

History[edit]

In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres. In 2000 the China Northern Locomotive & Rolling Stock Industry (Group) Corporation (also known as China Beiche Group)[4] was formed from this group.[5] Its main competitor, the China South Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2002.[6]

"China CNR Corporation" carried out import and export orders between 1998 and 2005 through the LORIC Import & Export Corp., Ltd.[7] The subsidiary CNR Logistic Development Corp., Ltd., established in 1998 deals with export sales of CNR vehicles and parts.[8]

In 2008 the group was reorganised into the China North Locomotive and Rolling Stock Corporation Limited (or China CNR Corporation Limited)[5] with a minority shareholding contributed by China ChengTong Holdings Group and China Huarong Asset Management Corp.[4]

The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.[9][10]

From the early 21st century onwards the group began a strategic diversification into wind turbine manufacture - its first major new facility was a 500 turbine per year capacity factory in Songyuan, (built 2009-11), established through CNR Wind Power Co.. The company expects to invest ~35billion Yuan in CNR Wind Power to establish a full scale wind power industry.[11][12]

At the end of 2014 CNR and rival CSR announced their intention to merge, with CSR acquiring CNR shares at a ratio of 1 CSR : 1.1 CNR; the resultant company (value ~$26billion) was to be named China Railway Rolling Stock Corp (CRRC).[13][14]

Manufacturing and research subsidiaries[edit]

The corporation has numerous subsidiaries at various sites in China:[15]

References[edit]

  1. ^ China Northern Locomotive & Rolling Stock Industry (Group) Corporation www.chinesemol.com
  2. ^ Das, Mamuni (October 6, 2013). "Chinese firms join race to supply locos to Railways". The Hindu Business Line. 
  3. ^ "Maglev trains speeding toward greener future". China Daily Asia. Retrieved 6 January 2015. 
  4. ^ a b George Gao (18 July 2008). "China North Locomotive to have IPO in year end". autonews.gasgoo.com. 
  5. ^ a b Sources:
    "China CNR Corporation Limited - About CNR - History". www.chinacnr.com. 
    中国北车股份有限公司 - 公司介绍 - 公司历史. www.chinacnr.com (in Chinese). 
  6. ^ "CSR Corporation Limited : History". www.csrgc.com.cn. 
  7. ^ "China CNR Corporation Limited - Worldwide-LORIC". www.chinacnr. Retrieved 6 February 2011. 
  8. ^ 中车进出口有限责任公司_公司介绍_成员企业_中国北车股份有限公司. www.chinacnr.com (in Chinese). Retrieved 6 February 2011. 
  9. ^ China CNR gets greenlight for its IPO , (Xinhua) , 22 August 2009 , www.chinadaily.com.cn
  10. ^ Chinese train maker CNR's IPO gets off to slow start , Reuters , 29 December 2009 , via www.telegraph.co.uk
  11. ^ 中国北车风电产业园在济南奠基开工, www.chinacnr.com (in Chinese), 8 September 2009 
  12. ^ 中国北车松原风电产业园全面开工, www.chinacnr.com (in Chinese), 10 May 2011 
  13. ^ "CNR and CSR agree merger terms", www.railwaygazette.com, 31 Dec 2014 
  14. ^ "Rival China trainmakers merge to boost high-speed rail push abroad", www.reuters.com, 30 Dec 2014 
  15. ^ "China CNR Corporation Limited - About CNR - Subsidiaries". www.chinacnr.com. Retrieved 6 February 2011. 

External links[edit]

  • 中国北车股份有限公司, www.chinacnr.com (in Chinese and English)  , China North Locomotive and Rolling Stock Corporation Limited official website