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What does CRRC stand for?

CRRC Corporation Limited (known as CRRC) is a Chinese state-owned and publicly traded rolling stock manufacturer. It is the world's largest rolling stock manufacturer in terms of revenue, eclipsing its major competitors of Alstom and Siemens. It was formed on 1 June 2015 through the merger of CNR and CSR.

Who owns CRRC Group?

The parent company is CRRC Group, a state-owned enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council. The State Council also owned additional shares via China Securities Finance and Central Huijin Investment.

Will CRRC double its overseas sales?

"China Trainmaker CRRC Plans to Double Its Overseas Sales". Bloomberg L.P. Archived from the original on 6 March 2016. Retrieved 5 March 2017. ^ Briginshaw, David (1 September 2015). "CRRC first-half profits up while overseas revenue soars". International Railway Journal. ^ Barrow, Keith (9 March 2016).

How did CNR & CSR merge?

The merger came into effect 1 June 2015, with each CNR share exchanged for 1.1 CSR shares - the combined company became the largest railway rolling stock manufacturer in the world, and held over 90% of the Chinese market. Total employment of the combine was 175,700 persons, and the share capital was valued at CN¥ 27.289 billion.

How much did CRRC cost?

The cost of the contract was US$632 million up to US$1.3 billion with options; as a consequence CRRC began development of a US$40 million assembly factory in Chicago, designed by Itasca, Illinois -based Cornerstone Architects Ltd.

Are CNR Group and CSR Group the same company?

CNR Group and CSR Group, were once one company, China National Railway Locomotive & Rolling Stock Industry Corporation [wikidata] (LORIC). The company was split up in 2002. In late 2014, CNR Group and CSR Group agreed to merge, subject to approval by the Chinese state.