China CNR Corporation

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China CNR Corporation Limited (CNR)
Type Limited company
Industry Rail - locomotive and rolling stock manufacturing
Predecessor(s) 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(s) majority State-owned enterprise
Website www.chinacnr.com

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 domestic market and also export markets in Angola, New Zealand, Malaysia, Nigeria, Tanzania, and Cuba.[2]

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)[3] was formed from this group.[4] Its main competitor, the China South Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2002.[5]

"China CNR Corporation" carried out import and export orders between 1998 and 2005 through the LORIC Import & Export Corp., Ltd.[6] The subsidiary CNR Logistic Development Corp., Ltd., established in 1998 deals with export sales of CNR vehicles and parts.[7]

In 2008 the group was reorganised into the China North Locomotive and Rolling Stock Corporation Limited (or China CNR Corporation Limited)[4] with a minority shareholding contributed by China ChengTong Holdings Group and China Huarong Asset Management Corp.[3]

The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.[8][9]

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.[10][11]

Manufacturing and research subsidiairies[edit]

The corporation has numerous subsidiaries at various sites in China:[12]

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. ^ a b George Gao (18 July 2008). "China North Locomotive to have IPO in year end". autonews.gasgoo.com. 
  4. ^ 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). 
  5. ^ "CSR Corporation Limited : History". www.csrgc.com.cn. 
  6. ^ "China CNR Corporation Limited - Worldwide-LORIC". www.chinacnr. Retrieved 6 February 2011. 
  7. ^ "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. 
  8. ^ China CNR gets greenlight for its IPO , (Xinhua) , 22 August 2009 , www.chinadaily.com.cn
  9. ^ Chinese train maker CNR's IPO gets off to slow start , Reuters , 29 December 2009 , via www.telegraph.co.uk
  10. ^ "中国北车风电产业园在济南奠基开工", www.chinacnr.com (in Chinese), 8 September 2009 
  11. ^ "中国北车松原风电产业园全面开工", www.chinacnr.com (in Chinese), 10 May 2011 
  12. ^ "China CNR Corporation Limited - About CNR - Subsidiaries". www.chinacnr.com. Retrieved 6 February 2011. 

External links[edit]