General Electric May Sell Train Engines to Russian Railways Subsidiary

On Friday, General Electric's (NYSE: GE  ) Transportation unit announced that it has signed a "memorandum of understanding" with Russian firms Locorail and Yakutia Railways aimed at exploring a "strategic relationship" for modernizing the latter's diesel-electric locomotive fleet.

The memorandum envisions that GE will sell at least 100 FDL engine kits to Yakutia Railways over a five-year term, train the companies' employees to maintain and service the engines, and supply tooling and equipment necessary for the engines' upkeep. However, at this time, no actual agreement to sell the engines has been signed.

Locorail is a Dutch consortium that specializes in building railroads. It is jointly owned by three construction companies -- France's VINCI Concessions, Belgium's Compagnie d'Entreprises CFE, and the Netherlands' BAM PPP. Yakutia Railways is a Russian railroad transportation company and a subsidiary of JSC Russian Railways.


Read/Post Comments (0) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2232061, ~/Articles/ArticleHandler.aspx, 12/22/2014 5:19:39 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement