Monday, June 26, 2017

Uralvagonzavod and Bombardier to manufacture trams in Yekaterinburg

The Uralvagonzavod production and research corporation, OJSC and the Canadian mechanical engineering company Bombardier will create a joint venture this year in Yekaterinburg to manufacture trams.

The two companies have signed a letter of intent to form this partnership. Oleg Siyenko, Uralvagonzavod's general director, said that the companies will work together on a parity basis, Russian Business News reports.

The Ural Transport Machine-Building Plant, OJSC, is Uralvagonzavod's subsidiary. It specializes in the production of trams.

On Friday, Uralvagonzavod announced its intention to purchase 50 percent of the shares in Motovilikhinskie Zavody, OJSC. The company has already bought 15 percent of the shares in the Perm company, which has $50 million of capital stock. The company may purchase the stock on its own or it may be a joint buy with the Rostechnologii corporation, which has a 35 percent stake in the company already.

Uralvagonzavod is one of the leading domestic designers and manufacturers of freight railway cars in Russia. The company first began producing freight railway cars in October 1936. Today, the corporation owns one of Russia's biggest research and production complexes including the production of tools, mechanical repairs, mechanical assembly, car building, metallurgical production and other types of production providing a closed production cycle.

The latest developments at Uralvagonzavod include new-generation gondola cars, new models of freight railway vehicles and tank cars.