United Wagon Company to open its subsidiary in US
Research and production corporation «United Wagon Company» (UWC or the Company) (MOEX: UWGN), is opening its subsidiary in the US - Uniwagon North America Corp. (New Jersey). UWC’s shareholding in the new company is 100%.
Uniwagon North America Corp. is intended to facilitate the entry of UWC’s products to the North American market, as the railway holding is seeking to expand its exports. The Company expects to have the subsidiary registered and start operating prior to the end of September.
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). The parties agreed on supplying heavy railcar castings (side frames and bolsters) to the US for the purposes of manufacturing Barber S2HD (America’s most common bogie with an axle load of 32.5 tf), and high-tensile railcar springs.
Maxim Kuzemchenko, the Company's Deputy CEO, Business Development, said, “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 US, we are seeking to expand our exports to Africa, the Middle East and Latin America.”