Uralvagonzavod H1 Net Loss Dropped to 35.5 M USD
Uralvagonzavod’s net loss (GAAP) in H1 2016 dropped three times to 2.3 B RUB (35.5 M USD), the TASS quotes Uralvagonzavod. The company’s revenue dropped 27.5% to 43.1 B RUB (662.3 M USD). However, Uralvagonzavod showed a 4-times increase of its railway product sales to 2.7 B RUB (41.7 M USD). Uralvagonzavod is one of Russia’s largest freight car manufacturers. The company also manufactures military products and construction machines. In 2015 Uralvagonzavod showed a net loss o
Azovmash to Supply 3000 Freight Cars to Iran
Azovmash is to supply 3000 freight cars to Iran, the RZD-Partner quotes Ukrainian Embassy in Iran. Tank and gondola cars will be supplied under the contract. The contract amount is 100 M EUR. Azovmash is Ukraine’s leading freight car manufacturer. The company showed net loss of over 130 M USD in 2015. Net income dropped 3.8 times to 2014.
Innovative Freight Car Discussion at the Russian Government's Analytics Center
The renewal of the Russian freight car fleet with innovative cars is not as quick as expected, the Gudok reports from the Round Table arranged at the Russian Government Analytics Center. The reasons are systematic issues; Governmental support might result in freight car acquisition reduction in the mid-term. One of the key problems of the innovative freight car market is a gap between potential demand and car manufacturers’ forecasts. Plants have sufficient facilities while c
ZhDRM Got Locomotive Repair Order for 50.6 M USD
Zheldorremmash (ZhDRM) got an order from OAO RZD at 3.277 B RUB (50.6 M USD), the Gudok reports. ZhDRM is to repair additional locomotives in H2 2016. Earlier ZhDRM was to repair 1,981 locomotive sections (-17% to 2015). Now, the new orders would be split between Chelyabinsk Electric Locomotive Repair Plant (+128 locomotive sections), Astrakhan Diesel Locomotive Repair Plant (+32 sections), Rostov Electric Locomotive Repair Plant (+49 sections), Orenburg Locomotive Repair Pla
Russian Transport Ministry Fosters Innovative Car Acquisitions
The Russian Ministry of Transport drafted a procedure of evaluating the economic effect of operating innovative freight cars, the Kommersant reports. The adoption of the document is to improve freight car acquisitions, the Ministry believes. The procedure is a part of the national Transport Machine-Building Support Program for 2016. The Ministry believes that the absence of the document showing economic benefits of the innovative rolling stock operation does not allow increas
RZD to Sell 25% in Russia’s Largest Sleeper Manufacturer
Russian Ministry of Economic Development, Ministry of Transport and Federal Property Agency agreed the sales of 25% in Beteltrans, the Kommersant reports. The share is now owned by OAO RZD and, by law, could be sold only upon the Government decision. Beteltrans (BET) is Russia’s largest sleeper manufacturer. In 2014 50% minus two shares in the company was sold to T-Industriya, which requested sales of further 25% in 2015. BET signed several contracts with OAO RZD for supply o
Uralvagonzavod Sues Intellectual Property Service for Its Patent Annul
Uralvagonzavod is suing Russian Federal Service for Intellectual Property (Rospatent), the Kommersant reports. Uralvagonzavod disputes Rospatent’s decision to annul the company’s patent for the 18-100 freight car bogie. Uralvagonzavod’s patent No. 2200681 issued to “Railway Car Bogie” was received in 2001. The company patented the design of replaceable pads installed between side beams and bolsters to improve wear resistance and endurance of the side beam aperture and facilit
Kazakhstan Railways Improves Safety
Kazakhstan Railways reported safety results upon January - July 2016. The company reported a drop in safety violations by 4% to Jan-Jul 2015, non-compliance - by 10%, gross non-compliance - by 45% and other violations - by 9%. The improvement is reached thanks to introducing a functional safety strategy, implementing recommendations given by Oliver Wyman consulting company, introducing new procedures to evaluate failure rates and safety efficiency. All the target indicators a
IST Group Reduced Share in UniWagon to 25.05%
United Wagon PLC (UWP) controlled by IST Group reduced its share in UniWagon from 49.98% to 25.05.%, the Kommersant reports. UWP remains UniWagon strategic shareholder and “diversification of the shareholder structure is a sign of the company’s investment attractiveness”, UniWagon commented. Now 54.16% in UniWagon are owned by other strategic investors; UniWagon management owns 0.96% and free-float is 19.83%. In August 2015 Kommersant’s source at IST was saying that the compa
RZD to Reduce Locomotives Acquisitions Since 2017
OAO RZD is to buy less locomotives starting 2017, the Kommersant quotes OAO RZD Vice President Oleg Valinsky supervising locomotive operations. He made this statement at the Round Table “Increasing Locomotive Fleet Efficiency at the Russian Railways: Issues and Prospective”. The reason for reduction is that RZD’s inventory fleet is to be optimized and all the locomotives that would remain in the fleet will be operated. “We evaluated the amount at the average of 430 - 450 loco
