The American company Wabtec now fully controls the shares of the Locomotive Assembly Plant
Astana
The American company Wabtec now fully controls the shares of the Locomotive Assembly Plant (LKZ) in Kazakhstan, becoming its sole owner, Eurasia Today reports.
Previously, the company held half of the shares on parity with the Russian company AO “Transmashholding.” Wabtec acquired an additional 50% of LKZ shares for $81 million.
In September 2022, Kazakhstan Temir Zholy (KTZ) signed a memorandum of understanding with Wabtec.
Assuming all transactions specified in the documents are completed, it is expected that Wabtec’s profit from supplying equipment to Kazakhstan will amount to $2 billion.
Thus, Kazakhstan Temir Zholy plans to upgrade its locomotive fleet.
Wabtec is an American company that manufactures products for locomotives, freight, and passenger vehicles, and also builds modern locomotives.
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