GE and CSR embark on joint venture for rail technology in the U.S.
Written by jrood
General Electric and CSR Corporation have joined forces to advance high-speed and other rail technology in the U.S. The approximated $50 million shared endeavor has the potential to sustain or create 250 U.S. jobs by 2012 for the first phase of the agreement. "We are committed to advancing the global high-speed rail technology market and this agreement provides a significant opportunity for infrastructure and business growth," said GE Vice Chairman John Rice. "It is in line with GE's company-to-country initiatives and will help support investment and high-tech job growth in America." All final production will be in the U.S., sustaining approximately 3,500 long-term high-tech manufacturing U.S. jobs in support of the cooperative. Zhao Xiaogang, chairman of CSR said, "CSR and GE will create a leading passenger transportation business in the U.S. by combining CSR's extensive experience in developing and operating high-speed, medium-speed EMUs and urban rail transit vehicles with GE's manufacturing and supply chain management expertise in America, as well as in-depth knowledge of the U.S. rail market."
