China Railway Rolling Stock Corporation (CRRC) is studying the possibility of making acquisitions in Brazil to expand its market in the country, according to the Tecnologística website.
According to the Vice-President of the Chinese company, Wang Juan, the CRRC is interested in acquiring a Brazilian company and starting production of railway equipment to sell in the country.
The CRRC, while recognising that in Brazil road transport networks are in the majority it is confident that the railways will be highly competitive on a commercial level.
“We are a modern company with a presence in Brazil and as a local company we want to contribute to the economic development of the country. There are many ways to do so. Produce locally, partner local companies or introduce China’s new railway technologies to Brazil,” said Juan.
The CRRC, which is represented in Brazil by DAG Railway, had foreign sales of US$2.24 billion in the first half of the year, an increase of 126% over the first half of 2015.
The CRRC, which is based in Beijing and over 175,000 employees, is the world’s largest railway equipment manufacturer. (macauhub/CN/BR)