GE Transportation acquires 50% stake in Kazakh locomotive producer
Baku, Azerbaijan, April 13
By Elena Kosolapova – Trend:
The GE Transportation company has completed the purchase of a 50 percent interest in locomotive manufacturer Lokomotiv Kurastyru Zauyty (LKZ) from Kazakhstan’s national railway company Kazakhstan Temir Zholy, GE Transportation said in a message.
“Today’s announcement underscores GE’s commitment to working with KTZ to ensure that Kazakhstan’s rail infrastructure remains modern and reliable,” said GE Transportation President and CEO Jamie Miller.
“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,” Miller said.
Lokomotiv Kurastyru Zauyty was formed in 2009. It was a 50/50 joint venture between KTZ and Russia’s largest rail equipment producer, Transmashholding (TMH).
LKZ manufactures GE Evolution Series locomotives for freight and passenger transportation in Kazakhstan and the broader CIS region.
GE Transportation is a global technology leader and supplier of equipment, services and solutions to the rail, mining, marine, stationary power and drilling industries. It is headquartered in Chicago, IL, and employs approximately 10,000 employees.
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