The Business Times
SUBSCRIBERS

Merger ahead for two Chinese trainmakers

Published Tue, Oct 28, 2014 · 09:50 PM

Beijing

CHINA'S State Council has ordered the merger of trainmakers China Northern Locomotive & Rolling Stock Industry Group Corp and CSR Group into one company, according to government officials involved in the transaction.

A consolidation will facilitate efforts to win contracts abroad, said the officials, who asked not to be identified as they are not authorised to speak to the media. Details of the transaction are yet to be set, and China International Capital Corp is drafting a plan for merging the two companies' listed arms, they said.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here