Kirill Lipa, CEO of Transmashholding and Kiyoshi Nakata, Deputy COO Rolling Stock of Railway Systems Business Unit at Hitachi signed an agreement to localize in Russia the production of traction inverters for rail passenger transport.
Under the agreement, the Transmashholding-Hitachi joint venture will use manufacturing capacities of Metrowagonmash, a subsidiary of Transmashholding, to manufacture high-performance traction inverters in Russia. Transmashholding will own 51% of the JV authorized capital of RUB 375 million (USD 6 million) and Hitachi will own 49%. “We hope that this JV will lead to further expansion of our Railway Systems Business and the improvement of Hitachi presence in Russia as well as CIS countries,” Kiyoshi Nakata said.
The JV will produce 200 traction systems per year and it will carry out the design as well as manufacturing, assembly, testing, sale, repair and maintenance service of the products. This will make high-performance, high-quality traction inverters available throughout the Russian market, as well as the CIS and European markets.
The two companies complement each other, as Transmashholding commands an extensive distribution network in Russia and other CIS countries, and has wide experience in supplying and maintaining rolling stock, while Hitachi provides efficient and reliable electric components for Metrowagonmash’s projects in Sofia, St. Petersburg and Budapest. “Transmashholding and Hitachi developed a strong and mutually beneficial relationship working on joint projects. The establishment of a joint venture is a logical step to further improve this relationship. We expect products of the JV to be in high demand,” General Director of Transmashholding said.
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