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April 12, 2017

GE acquires 50% stake in Kazakhstan-based locomotive manufacturer LKZ

GE Transportation has completed the acquisition of a 50% interest in locomotive manufacturer Lokomotiv Kurastyru Zauyty (LKZ) from Kazakhstan's national railway company KTZ.

GE Transportation has completed the acquisition of a 50% interest in locomotive manufacturer Lokomotiv Kurastyru Zauyty (LKZ) from Kazakhstan's national railway company KTZ.

LKZ was formed in 2009, and is jointly owned by KTZ and Russia’s rail equipment producer Transmashholding (TMH). 

The company manufactures GE Evolution Series locomotives for freight and passenger transportation in Kazakhstan and the wider CIS region.

KTZ president Kanat Alpysbayev said: “We have been working with GE Transportation for more than ten years, and during this time we've produced over 300 Evolution Series locomotives.

“These locomotives, which are built locally, are used on Kazakhstan’s railways and operated throughout the CIS region. We look forward to furthering GE Transportation’s presence in the region.”

"Kazakhstan has a strategic plan to support economic growth and increased regional trade, and today’s announcement underscores GE’s commitment to ensuring Kazakhstan’s rail infrastructure remains modern and reliable."

GE will bring localised advanced technologies to the company following the acquisition, as well as investments in manufacturing and support for the region’s sustainable development.

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GE Transportation president and CEO Jamie Miller said: “Kazakhstan has a strategic plan for its railroad to support economic growth and increased regional trade, and today’s announcement underscores GE’s commitment to working with KTZ to ensure that Kazakhstan’s rail infrastructure remains modern and reliable.

“We are excited to become a shareholder of LKZ, and look forward to driving continued infrastructure improvements across the country, and bringing the most advanced locomotive technology to the CIS region.”

LKZ manufactures and markets single-unit mainline freight locomotives, and serves state and private railways in Kazakhstan, Tajikistan, Turkmenistan, Azerbaijan, Estonia, Mongolia, and other countries in the CIS region.

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