Russian railway industry & Molinari Rail…
Russian rail industry association NP UIRE (OPZT) and Molinari Rail establish joint company in Moscow
[Winterthur, February 20, 2018] At the annual meeting held on February 16, 2018 Russian rail industry association NP UIRE (OPZhT) and Swiss based Molinari Rail AG agreed to establish a joint company.
The Parties will create the joint venture as limited liability company «Transport Technologies and Technics», short LLC TransTT. The task of the new company will be technical audit of Russian developments, participation in new technological developments in Russia for high-speed passenger and freight traffic in Russia, promotion of products of Russian manufacturers internationally. The company will be based in Moscow, Russia. OPZhT will have 51% of the authorized capital, Molinari Rail AG – 49%.
The corresponding decision was made by the participants of the general meeting of the OPZhT, held in Moscow. The President of OPZhT, Mr Valentin Gapanovich and Mr. Michele Molinari, owner and president of Molinari Rail AG agreed to proceed with the establishment of the joint company.
“The establishment of the new company with OPZhT is based on our activities in the Russian market since 2005 and the close collaboration with OPZhT and its members.”, stated Michele Molinari at the meeting in Moscow. “The new company is part of the internationalization strategy of Molinari Rail and will strengthen the footprint in one of the biggest railway markets of the world.”
Contact: Mrs. Stephanie Sosa