Transmashholding

CJSC Transmashholding
Closed Joint Stock Company
Industry Railway Transportation
Founded Russia, 2002
Headquarters Moscow, Russia
Number of locations
 14 in Russia,
1 in Germany,
1 in Argentina
Area served
 Russia, Eastern Europe, Middle Asia
Products locomotives, railway vehicles
Services repair operations and service maintenance
Revenue $1.78 billion[1] (2016)
$134 million[1] (2016)
$26.7 million[1] (2016)
Total assets $2.1 billion[1] (2016)
Total equity $910 million[1] (2016)
Owner Breakers Investments B.V. (100%)[2]
Number of employees
 more than 53,000
Website www.tmholding.ru
Demikhovo ЭД4М EMU Train ED4 (2013)
Interior of Metro 81-722 in St. Petersburg
81-760B Train
81-760-761 Train № 37002
NP1-076

CJSC Transmashholding (Russian: Трансмашхолдинг) is the largest manufacturer of locomotives and rail equipment in Russia and after merging with LocoTech service the fourth largest engineering company in the field of transport technology globally.[3]

The company includes 14 engineering and production sites in Russia and one production and engineering site in Germany as well as investments in Argentina.[4]

History

CJSC Transmashholding was established in 2002.

In 2012, Transmashholding took in 130 billion rubles in revenue. This revenue represents a 22 percent increase over 2011 revenues.[5] Due to the 2014 Russian invasion of Ukraine Transmashholding was put on a sanctions list by the Ukrainian government. [6]

In Dec 2015 RZD approved the sale of its 25%+1 share in the company (The Breakers Investments BV).[7] Alstom's stake in the company was increased to 33% by end of 2015.[8]

In December 2017, the company paid USD 3 million for the concession and refurbishment of the Mechita workshops in Bragado. Argentina. The site is part of a planned USD 200 million investment by the company in the country to produce parts for the railway industry and rolling stock if it is successful in bidding in SOFSE's large tender offers.[9][10]

Ownership

In 2018 Transmashholding was 100% owned by Breakers Investments B.V, a holding registered under Dutch law.[11] Alstom Holdings owns 20% in this structure, while companies owned by Iskander Makhmudov, Andrei Bokarev, Dmitry Komissarov and Kirill Lipa, accounted for about 80%.[11]

The President of the company is Andrei Bokarev and the current Chairman of the Board, as of November 2012, is Anatoly Ledovskikh.[12] Mr. Ledovskikh is the former head of the Russian government agency Federal Agency for Subsoil Use, also known as Rosnedra.[13][14]

Activities

The company actively works with JSC Russian Railways, the Ministry of Transportation of the Russian Federation, and other Russian Federation ministries, including Ministry of Industry and Power, Ministry of Economic Development and Trade, and Ministry of Finance.

Russian Railways is the company’s biggest customer. The company manufactures and sells subway cars, passenger diesel locomotives, diesel engines, freight cars, flat cars, and diesel trains.[5] Transmashholding has major customers in Bulgaria, Belarus, Egypt[15], Kazakhstan, Serbia, and formerly Ukraine.

Products

Transmasholding manufactures diesel-locomotive shunters, main-line and electric industrial locomotives, passenger and freight cars, electric train cars, locomotive and marine diesels, car castings and other products. The company has provided railcars to Warsaw Metro and Baku Metro, among others.[16]

Structure

Russia-based companies

The company structure includes several major industrial plants in Russia:[17]

Joint ventures

Bombardier transportation

On 25 May 2007, in Sochi, Russia, Bombardier and Transmasholding signed an agreement to jointly establish an engineering center.[22]

In May 2008, Bombardier and TMH signed an agreement to form a joint company for the production of locomotives. The equal share companies were organised under the previously formed Bombardier Transportation Transmashholding AG, one as an engineering design centre: Transmashholding Bombardier Transportation (Engineering) Rus and another for the manufacturing of inverter drives (based on Bombardier's MITRAC technology) used in electric locomotives: Transmashholding Bombardier Transportation (Industrial) Rus.[23][24]

Knorr-Bremse

In April 2007, Knorr-Bremse AG and Transmashholding agreed to create a Russian joint venture to manufacture, sell and service rail vehicle braking systems in Russia and the Commonwealth of Independent States.[25]

Alstom

In December 2007, ALSTOM and Transmasholding signed a cooperation agreement that would lead to the formation of joint ventures for the production of railway components in Russia.[26] In October 2008 the partnership was further extended by the formation of a 51:49 joint venture for the production of double decker coaches TMH-Alstom DV.[27] This intent was ratified on 31 March 2009, with Alstom providing ongoing technical expertise for the modernisation of TMH's production sites, and the development of new locomotive platforms; with TMH undertaking more than 75% of the manufacturing. At the same time Alstom took a 25(+1)% stake in TMH's capital holding company.[28]

In April 2013, Alstom and Transmashholding inaugurated a joint production site intended to asynchronous traction motors for electric locomotives in Novocherkassk, that would later be used to equip the locomotives jointly developed and manufactured by Alstom and TMH for Russia and Kazakhstan. The inauguration ceremony was held in the presence of Russian Railways Senior Vice-President Valentin Gapanovich, TMH Managing Director Andrey Andreev, and Alstom Transport President, Henri Poupart-Lafarge.[29]

By late 2015 Alstom had increased its shareholding in Transmashholding by 8% from 25 to 33% for €54 million.[8]

Siemens

Transconverter was formed as a joint venture with Siemens in April 2005 for the production of electrical equipment (high voltage static converters).

TMH-Argentina

The company's subsidiary in Argentina is based in Vicente López, Buenos Aires and serves Argentina as well as other countries in South America. Its activities include the manufacture of several components, including diesel engines, as well as the repair and modernisation of railway infrastructure and rolling stock.[30] It is a joint venture with Trenes Argentinos Infraestructura.[31]

In May 2018, the company took hold of the Mechita workshops in Bragado following a $3 million investment for the refurbishment of the site. The company was also awarded a contract to refurbish the San Martin Line's carriages and CSR SDD7 locomotives at Mechita and announced plans to invest $70 million over the next 5 years and potentially $170 million over the next 10 in order to produce and repair rolling stock at the plant in exchange for a 30-year concession.[32]

Former subsidiaries

  • Fahrzeugtechnik Dessau AG (Fahrzeugtechnik Dessau (in German)) was part of Transmashholding from 2006 to 2008 and was taken over by the Romanian CTF at the end of 2008.

References

  1. 1 2 3 4 5 http://www.e-disclosure.ru/portal/FileLoad.ashx?Fileid=1324168.
  2. ↑ About Transmashholding Archived 17 April 2013 at Archive.is eng.thholding.ru
  3. ↑ "News". www.tmholding.ru. Retrieved 2018-09-24.
  4. ↑ About the Company Archived 17 April 2013 at Archive.is
  5. 1 2 TMH BOOSTS SALES 22% IN 2012", Ukraine Business Daily, 5 March 2013, accessed 13 March 2013 via Nexis
  6. ↑ https://globalcompliancenews.com/ukraine-expands-sanctions-russia-20161020/
  7. ↑ "Russian Railways to sell Transmashholding stake", www.railwaygazette.com, 21 December 2015
  8. 1 2 Barrow, Keith (29 December 2015), "Alstom increases stake in Transmashholding", www.railjournal.com
  9. ↑ "Transmashholding se instalará en los talleres de Mechita". enelSubte.com (in Spanish). 21 December 2017. Retrieved 21 December 2017.
  10. ↑ "El mayor fabricante de trenes ruso desembarca en la Argentina". enelSubte.com (in Spanish). 12 October 2017. Retrieved 21 December 2017.
  11. 1 2 "Французская Alstom снизила долю в «Трансмашхолдинге» ниже блокирующей". Vedomosti. 2 August 2018. Retrieved 8 October 2018.
  12. ↑ "Ex-Rosnedra chief Ledovskikh becomes advisor to Transmashholding president", Russia & CIS Business & Financial Daily, 19 February 2013
  13. ↑ Dukes, Fred (24 September 2012), "Former Rosnedra CWO joins TransMashHolding board of directors", Metal Mining Wire
  14. ↑ "Russia: Ex-head of Rosnedra becomes new chairman of Transmashholding's board", Kommersant, 16 November 2012
  15. ↑ Youm7 Press Release Youm7 Press Release
  16. ↑ Transmashholding company press releases Archived 9 July 2012 at Archive.is eng.tmholding.ru
  17. ↑ Transmashholding : Enterprises Archived 10 July 2012 at Archive.is eng.tmholding.ru
  18. ↑ Производственная фирма КМТ KMT tmholding.ru (Russian)
  19. ↑ KMT Industrial group tmholding.ru (English)
  20. ↑ Всероссийский научно-исследовательский и проектно-конструкторский институт электровозостроения. eng.tmholding.ru (in Russian). Transmashholding.
  21. ↑ "Transmashholding Buys Majority Shareholding in VELNII". rtdr.org. 17 February 2009.
  22. ↑ Hogan & Hartson Advises Transmashholding on Joint Venture Project With Bombardier, June 5, 2007 Archived 29 June 2007 at the Wayback Machine.
  23. ↑ Bombardier Transportation and Transmashholding Establish Engineering Joint Venture to Develop New Generation 21 May 2008 reuters.com
  24. ↑ Bombardier Transportation and Transmashholding Establish Engineering Joint Venture to Develop New Generation Locomotives 21 May 2008 marketwire.com
  25. ↑ Knorr-Bremse breaks into Russia 1 May 2007 railwaygazette.com
  26. ↑ Alstom and Transmashholding agree to form joint ventures in Russia 14 December 2007 transport.alstom.com
  27. ↑ Alstom Transport and Russian rolling stock manufacturer Transmashholding agree on strategic partnership Archived 8 December 2008 at the Wayback Machine. 6 October 2008 alstom.com
  28. ↑ Alstom and the Russian rail manufacturer Transmashholding sign a strategic partnership agreement 1 April 2009 alstom.com
  29. ↑ "Alstom and partner Transmashholding open new production facility in Russia". Alstom. 25 April 2013. Retrieved 20 June 2013.
  30. ↑ "TMH-ARGENTINA". tmholding.ru. Retrieved 21 December 2017.
  31. ↑ "Grupo ruso invertirá u$s 200 millones para la construcción de vagones y locomotoras en el país". El Cronista (in Spanish).
  32. ↑ Krom, Andres (11 May 2018). "Un gigante ferroviario ruso inició sus operaciones en el país". La Nacion (in Spanish). Retrieved 12 May 2018.

Notes

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