Faiveley Transport, a company controlled by Faiveley and Sagard, has confirmed it has entered into a consortium agreement with MTZ Transmash (Russia).
MTZ Transmash is recognised as a reference for the quality of its products; it is a market leader in the Commonwealth of Independent States (former Soviet Union) and in the Baltic countries for the production of brake and control systems for rolling stock and metros. MTZ Transmash, based in Moscow, was founded in 1921, it employs 1,300 people and in 2007 revenues reached €100 million.
This agreement is a key step to enable Faiveley Transport and MTZ Transmash to cooperate together to develop and produce car and locomotive brake systems for global clients.
“The combination of these respective activities will allow both parties to meet the requirements of global customers providing them with the best braking solutions for the Russian market,” agreed Nicolay Egorenkov, managing director of MTZ Transmash and Robert Joyeux, president of Faiveley Transport.
In parallel, the two entities have entered into exclusive negotiations for the creation of a joint venture in brake systems to meet the needs of the local Russian market, both in terms of local production and engineering support.