BERLIN (CP) -- Bombardier Transportation has linked up in a joint venture with Russian train manufacturer CJSC Transmashholding to develop new line of locomotives.
The Berlin-based railway equipment division of Bombardier Inc. said Wednesday that the electric locomotives would be manufactured in Russia.
The deal will focus on developing new locomotives for the Russian market, and boost Bombardier's position in the region, which has a strong rail industry.
Financial details were not disclosed, though Bombardier said each side ''will have an equal share and equal rights.''
Last year Bombardier partnered with CJSC on two other agreements and together they established a managing company.
''The establishment of a new company to develop a family of new generation locomotives is a further example of our intention to expand long-term partnerships with Russian industry,'' stated Andre Navarri, president of Bombardier Transportation.
