Russia's United Wagon Company opening its subsidiary in the U.S.
Russia's research and production corporation United Wagon Company (UWC) is opening its subsidiary in the United States, the company said in a press release on Sept. 20.
Uniwagon North America Corp. (New Jersey) with 100 percent shareholding ownership of United Wagon Company, is aimed at facilitating 'the entry of UWC's products to the North American market, as the railway holding is seeking to expand its exports,' the report said. The subsidiary will be registered and start operating prior to the end of September, UWC said.
Earlier, UWC reported its entry into contracts with Wabtec Corporation, a leading supplier of innovative products for rail industries, and Cardwell Westinghouse (a Wabtec company).
Russian freight car company to enter U.S. market.
The parties agreed on supplying heavy railcar castings (side frames and bolsters) to the U.S. for the purposes of manufacturing Barber S2HD (America's most common bogie with an axle load of 30 tf), and high-tensile railcar springs.
'With our expertise and world-class manufacturing facilities, we expect successful export performance. The approach we take is to make the most of our powerful engineering and design solutions, global access to components made under a wide range of standards, as well as flexible and highly efficient production processes. Apart from the U.S., we are seeking to expand our exports to Africa, the Middle East and Latin America,' UWC's Deputy CEO, Business Development Maxim Kuzemchenko was quoted as saying.
Public Joint Stock Company 'Research and Production Corporation United Wagon Company' is an integrated rail holding, which develops, manufactures and maintains new generation railcars and also provides leasing and transportation services. The company controls JSC Tikhvin Railway Car Building Plant, OOO NPC Pruzhina, OOO Vostok1520 and leasing companies under the brand RAIL1520. IST Group's President Alexander Nesis and his partners control about 74.71 percent of UWC.
