Native name 中国北车股份有限公司 Industry Rail transport Successor CRRC Corporation Ceased operations June 1, 2015 | Former type Limited company Headquarters Beijing, China Founded 26 June 2008 | |
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Traded as SEHK: 6199; SSE: 601299 Predecessor China North Locomotive and Rolling Stock Industry (Group) Corporation (founded Sept 2000)
中国北方机车车辆工业集团公司 Defunct June 1, 2015; 20 months ago (2015-06-01) | ||
China CNR Corporation Limited (CNR; Chinese: 中国北车股份有限公司), formerly known as China North Locomotive and Rolling Stock Industry (Group) Corporation was a state-owned enterprise supervised by the State Council of the People's Republic of China. The company was a primary manufacturer of locomotives and rolling stock for the Chinese market. The company has also exported to over 80 countries and regions, including Australia, Turkey, New Zealand, Saudi Arabia, Hong Kong, Taiwan, Argentina, Brazil and France.
Contents
In 2015, the company merged with CSR Corporation to form CRRC Corporation.
History
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) was formed from this group. Its main competitor, the China South Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2002.
"China CNR Corporation" carried out import and export orders between 1998 and 2005 through the LORIC Import & Export Corp., Ltd. The subsidiary CNR Logistic Development Corp., Ltd., established in 1998 deals with export sales of CNR vehicles and parts.
In 2008 the group was reorganised into the China North Locomotive and Rolling Stock Corporation Limited (or China CNR Corporation Limited) with a minority shareholding contributed by China ChengTong Holdings Group and China Huarong Asset Management.
The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.
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.
In 2013, the company began providing underground cars for Line A of the Buenos Aires Underground in Argentina, with the 150 cars to make up the entirety of the line. That same year, the company delivered 20 locomotives and 220 coaches to the country for Trenes Argentinos' long distance broad gauge rolling stock.
CNR company began delivering 81 Diesel Multiple Units in 2015 for the Belgrano Sur Line in Buenos Aires, operated by Trenes Argentinos.
In October 2014, CNR made a major breakthrough into the North American market by winning a $567 million contract to supply 284 metro cars for the Massachusetts Bay Transportation Authority's Orange (Type B car) and Red (Type A car) lines, with an option for 58 more. CNR plans to dedicate two manufacturing lines at a Chinese facility and build a 150,000 square-foot facility in Springfield, Massachusetts for final assembly of the vehicles.
At the end of 2014 CNR and rival CSR announced their intention to merge, with CSR acquiring CNR shares at a ratio of 1 CNR : 1.1 CSR; the resultant company (value ~$26billion) was to be named China Railway Rolling Stock Corp (CRRC). The two companies formally merged on 1 June 2015.
Manufacturing and research subsidiaries
The corporation has numerous subsidiaries at various sites in China: