United Wagon Company acquires shares in First Heavy Haul Company
PJSC «Research and production corporation «United Wagon Company» («RPC UWC» or the Holding) (MOEX: UWGN), the market leader in innovative rolling stock building in the 1520 mm gauge area, has completed its acquisition of shares in “First Heavy Haul Company” JSC established by Industrial Investors Group. RPC UWC acquired 19.9% of the shares in the largest owner and operator of new generation freight cars with a fleet of more than 28 thousand units.
The shares were acquired in exchange of a 100% share in "Vostok1520" LLC sold to First Heavy Haul Company in late 2016. As a new shareholder, United Wagon Company intends to participate in the strategic management of First Heavy Haul Company and will continue to develop its heavy haul operation-related activities.
The core of the fleet operated by First Heavy Haul Company are gondola cars with increased axle load. In order to increase carrying capacity of the railway infrastructure First Heavy Haul Company develops heavy haul transportation technologies in cooperation with RZD. The companies work to make up trains of railcars with increased capacity weight 7,100 t in the eastern direction and 9,000 t in the western direction.