The holders of 100% stock in Transmashholding, and 100% shares in LocoTech-Service consolidated their equity investments and became holders of 100% equity of the largest Russian railway manufacturer Transmashholding and the leading rolling stock maintenance LocoTech-Service. Transmashholding and LocoTech-Service will remain legally independent.
The total revenue of two companies amounted to EUR 3.4 billion in 2017 and is projected to reach EUR 4.2 billion in 2018. The shareholders plan a gradual integration of operations, eventually creating the world’s fourth revenue generating rolling stock manufacturer and service provider.
The capital stock is allocated between a group of Russian businessmen and the French company Alstom. Alstom previously holding 33% in Transmashholding, has got 20% in a new corporation.
Companies owned by Iskander Makhmudov, Andrei Bokarev, Dmitri Komissarov, and Kirill Lipa have got 79.4%, Dmitri Komissarov and Kirill Lipa being controlling shareholders.
The management team led by Kirill Lipa will continue their employment with Transmashholding; Yuri Degtyarev and his colleagues will keep executive roles in Locotech.
The merge between Transmashholding and Locotech-Service will enable full service lifecycle locomotive delivery contracts for Russian Railways and add value to the manufacturer’s export projects through maintenance services. The unification of research capacities of the two companies will increase efficiency of investments in research and development while reducing the time to implement research projects.
Additionally, shareholders and the management are confident that Locotech’s data on performance of the Russian locomotive fleet in the course of its operation will help increasing marketability of products manufactured at Transmashholding sites.
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