- Agreement strengthens long-standing relationship between the companies - Sets the stage for further cooperation on projects in
the Chinese and international rail markets - Allows for greater customer value by leveraging the companies' complementary
strengths
MONTRÉAL, QUÉBEC--(Marketwired - Sept. 23, 2016) - Rail technology leader Bombardier Transportation and
Chinese rolling stock manufacturer, China Railway Rolling Stock Corporation (CRRC), have signed a strategic agreement to expand
and deepen their relationship.
The agreement establishes a framework for the companies to leverage their complementary strengths for selected projects in
order to provide additional value to customers, better serve the growing global rail transportation equipment market and support
mutual long-term growth objectives. Areas of potential future cooperation include Chinese and international market development
and shared manufacturing resources.
The agreement was signed in Montréal by CRRC President Xi Guohua and Alain Bellemare, President and Chief Executive Officer,
Bombardier Inc., during Chinese Premier Li Keqiang's state visit to Canada.
"We have been working closely with CRRC since 1998 and are very pleased to have reached this latest milestone in our
relationship in order to provide Chinese and global customers a more competitive and broader range of rail transportation
solutions," said Alain Bellemare. "Together with CRRC, we are looking forward to delivering greater mobility to the people of
China as well as to other countries and cities developing their transportation systems with the latest technologies and shortest
time to market."
With six joint ventures and seven wholly foreign-owned enterprises, Bombardier Transportation has a strong presence in China,
where it is recognized as the most successful foreign rail transportation company. It has actively participated in the
development of China's rail transportation infrastructure and provided world class products. Among the six joint ventures, three
have been with subsidiaries of CRRC in China, manufacturing high speed trains, metro trains, monorails and other urban mass
transit vehicles. Together, the joint ventures have delivered more than 3,000 high speed railway passenger cars and more than
2,000 metro cars to the Chinese market. This newly-signed strategic agreement is the latest step in strengthening a successful
partnership and better supporting the international rail market.
About Bombardier Transportation
Bombardier Transportation is a global leader in rail technology and offers the broadest portfolio in the industry. It covers
the full spectrum of rail solutions, ranging from trains to sub-systems and signalling. The company also provides complete
transport systems, e-mobility technology and maintenance services. As an innovation driver, Bombardier Transportation
continuously breaks new ground in sustainable mobility. It provides integrated solutions that create substantial benefits for
operators, passengers and the environment. Headquartered in Berlin, Germany, Bombardier Transportation employs around 39,400
people and its products and services operate in over 60 countries.
About Bombardier
Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier
is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our
vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed
on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2015, we posted revenues of
$18.2 billion. News and information are available at bombardier.com or
follow us on Twitter @Bombardier.
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