United Wagon Company

United Wagon Company
Native name
 Research and Production Corporation "United Wagon Company", PJSC
PJSC
Traded as MCX: UWGN
Industry Transport machine building
Founded 2012 (2012)
Headquarters Moscow, Russia
Key people
 Roman Savushkin (CEO)
Products Freight cars
Revenue Increase RUB 48.504 billion[1] (2016)
Increase RUB 7.746 billion[1] (2016)
Increase RUB 568.4 million[1] (2016)
Number of employees
 >11,000 (2018)
Website www.uniwagon.com/en

United Wagon Company (RPC UWC, PJSC, Russian: ПАО «Научно-производственная корпорация «Объединенная Вагонная Компания») is Russia's leading and one of the world's biggest manufacturers of freight cars. The Company is on the Russian Ministry for Economic Development list of strategically important organizations.[2]

United Wagon Company operates a railway holding comprising a few enterprises located in Leningrad and Udmurtiya region – Tikhvin Freight Car Building Plant, TikhvinChemMash, TikhvinSpetsMash, NPC "Springs", as well as the transport company UNICON 1520, leasing companies under the RAIL1520 brand and the car-repair enterprise TAP "Titran-Express.".[3][4][5][6][7][8][9] UWC also oversees its own R&D Center[10]

The company is headquartered in Moscow.

History

United Wagon Company was established in 2012 to run the activities of Tikhvin Freight Car Building Plant and the leasing company RAIL1520.

The official launch of Tikhvin Freight Car Building Plan took place in January 2012.[11][12][13][14] In July 2014, the plant produced its 10,000th freight car[15]

The freight car leasing company RAIL 1520 was founded in 2011.[16] In January 2012, RAIL1520 started a car leasing joint venture with the Japanese Mitsui – MRC1520.[17] RAIL1520 is in the TOP-10 largest leasing companies of Russia[18]

In September 2013, United Wagon Company and US-based Wabtec Corporation signed a joint venture agreement.[19] Several months prior to that, a similar agreement had been signed with Amsted Rail.[20][21]

In March 2014, UWC and Timken Company (USA) announced a joint venture to manufacture cassette bearings.[22]

In April 2014, United Wagon Company set up its own R&D engineering center.[10]

In June 2014, UWC acquired a 100% stake in NPC "Springs" (Izhevsk, Udmurtiya) producer of transport springs.[23]

In the same month, UWC launched a new transport company named Vostok1520 for heavy haul. In November 2016, United Wagon Company sold a 100% stake in Vostok1520 to First Heavyweight Company.[24]

In December 2014, the car fleet of RAIL1520 amounted to 20,000 freight cars.

In 2015, UWC and the global supplier of hi-tech products for railways Wabtec (USA) signed a contract for the supply of large car casting to the US market.[25][26]

In December 2015, UWC launched TikhvinChemMash plant to produce tank cars.[4]

In March 2016, United Wagon Company acquired Tikhvin Assembly Plant "Titran-Express" specialized in maintenance and repair of the rolling stock.[27]

In September 2016, United Wagon Company opened a representative office in the United States Uniwagon North America Corp. (New Jersey).[28][29]

In October 2016, UWC launched the manufacture of parts made of high-strength isothermally hardened cast iron with the capacity of 30,000 car sets a year.[30][31]

Late in 2016, the first batch of specialized cars was manufactured at a new plant of the railway holding TikhvinSpetsMash. The facility specializes in the output of various small-scale rolling stock types, including platforms for timber and metal transportation, isothermal cars and dumpcars.[32]

In March 2017, United Wagon Company established UNICON 1520, a transport start-up for container and tank container.[33]

In September 2017, Tikhvin Freight Car Building Plant passed the AAR quality certification procedure at the Association of American Railroads and launched the export shipment of large car casting for North American freight cars.[34]

Business activities

The railway holding Research and Production Corporation "United Wagon Company" is engaged in design, manufacturing, leasing and maintenance of freight cars as well as transportation services.

United Wagon Company is one of the first companies in Russia to launch the production of new fifth generation freight cars with an increased axle load of 25 tonnes.

UWC owns the copyright to the technologies by the two largest global manufacturers of bogies Barber S-2-R (Wabtec, the USA) and Motion Control (Amsted Rail, the USA), to their manufacture and sale in the territory of Russia and the CIS.

Tikhvin Freight Car Building Plant is the production center of the Holding. In 2017, the business units of United Wagon Company built 19,100 freight cars.[35]

Finances

By the end of 2016, the turnover (earnings) of United Wagon Company amounted to RUB 48,505 million.[36] The operating income was RUB 7.747 billion; the net income stood at RUB 568 million.

The UWC shares are in the first tier of listed securities and are included in the MICEX Index.[37]

In April 2015, United Wagon Company completed a public offering of its ordinary shares at the Moscow Stock Exchange. The Company sold 12.22% of its shares for RUB 9.028 billion as part of its IPO.

In April 2016, UWC additionally placed 6.9% of its shares at MICEX for over RUB 5.0 billion.[38] In April 2017, UWC organized another placement of 2.2% shares at MICEX to obtain RUB 1.9 billion.[39] Following the second SPO, the company's free float rose to 21.05%. A series of subsequent transactions resulted in the Company's free float rising to 26.1%.

Achievements

In 2012, Tikhvin Freight Car Building Plant was included in the Russia's Best Employers rating of HeadHunter.

In June 2013, Tikhvin Freight Car Building Plant won Vnesheconombank's Development Award in the Best Industrial Project category.

In September 2015, UWC made its debut in the annual Ranking of Biggest Russian Companies RAEX-600 and became a prize winner in the Growth Dynamics category.

In 2016, United Wagon Company ranked second in the annual rating of 50 fastest growing companies of Russia, according to the RBC magazine.

In December 2017, the rating agency RAEX (Expert RA) confirmed the credit rating of UWC at the level of ruBB and changed its rating outlook from "stable" to "positive".

In February 2018, TikhvinChemMash became a prize winner in the national competition organized by the Russian Union of Industrialists and Entrepreneurs "Russian Business Leaders: Dynamics and Responsibility 2017" for Best Import Substitution Project.

In the same month, United Wagon Company became a winner of Innovation & IP Forum and Awards as Best IP Department in Russia and CEE 2018.[40]

In August 2018, United Wagon Company became a winner of the contest organized by Russian Railways for the best quality of rolling stock and complex engineering systems.

Membership in national and international associations

Tikhvin Freight Car Building Plant has been a member of the non-profit partnership Union of Industries of Railway Equipment since 2009.

Starting in 2013, the leasing company RAIL1520 has been a member of the SRO The Union of Railway Transport Operators. In the same year, Tikhvin Freight Car Building Plant joined the Union of Car Builders Association, whereas United Wagon Company joined the Association of American Railroads.[41]

In 2014, UWC joined the ranks of The International Association for Vehicle System Dynamics and the Organization for Railways Cooperation; it also co-founded the non-profit partnership Steel Industry Association.[42]

Since 2015, United Wagon Company has been a member of The American Society of Mechanical Engineers.

Since 2016, UWC has been a member of the international association Railway Supply Institute.

Management

Chief Executive Officer of Research and Production Corporation "United Wagon Company" Roman Savushkin.

References

  1. 1 2 3 "Consolidated financial statements for the year ended December 31, 2016, and Auditor's Report" (PDF). Uniwagon. Retrieved 27 August 2017.
  2. ↑ "Государственная поддержка системообразующих организаций".
  3. ↑ "Railcar venture eyes market for freight".
  4. 1 2 "United Wagon Company launched a new transport mechanical engineering plant".
  5. ↑ "Locotrans has purchased UWC box cars".
  6. ↑ "United Wagon Company completes a deal on purchasing 100 % shares of NPC "Springs"".
  7. ↑ "United Wagon Co forms tank container subsidiary".
  8. ↑ "ICT Group of companies is creating a new leasing company RAIL1520".
  9. ↑ "Freight car repair enterprise for UWC".
  10. 1 2 "United Wagon Company establishes the railway R&D center".
  11. ↑ "Putin opens factory to produce a wagon every 24 min".
  12. ↑ "Putin opens high-tech freight wagon plant in Tikhvin".
  13. ↑ "New rail car manufacturing plant opens in Russia".
  14. ↑ "Russia Today".
  15. ↑ "Tikhvin Freight Car rolls out 10,000th wagon".
  16. ↑ "ICT Group of companies is creating a new leasing company RAIL1520".
  17. ↑ "Russia's ICT Group Forms Venture With Mitsui to Lease Railcars".
  18. ↑ "RAIL1520 lessor ranked among TOP 10 of Rail Russia Top".
  19. ↑ "Wagon component joint venture".
  20. ↑ "Railway technology deal signed".
  21. ↑ "Motion Control momentum in Russia".
  22. ↑ "Timken and United Wagon Co agree Russian bearing joint venture".
  23. ↑ "United Wagon Company completes a deal on purchasing 100 % shares of NPC Springs".
  24. ↑ "United Wagon Company acquires shares in First Heavy Haul Company".
  25. ↑ "UWC, Wabtec Corporation sign contract".
  26. ↑ "Russia's UWC to supply truck castings to Wabtec".
  27. ↑ "United Wagon receives indirect 100 pct stake in Tikhvin Assembly plant Titran-Express".
  28. ↑ "Russia's United Wagon Company opening subsidiary in the U.S."
  29. ↑ "UniWagon opens subsidiary in the US".
  30. ↑ "UWC launches bulk production of austempered ductile iron".
  31. ↑ "UWC launches bulk production of ADI for railcar wear resistance".
  32. ↑ "UWC delivers timber platforms to Locotrans".
  33. ↑ "United Wagon Company forms transport company UNICON 1520".
  34. ↑ "Tikhvin Freight Car Building Plant receives quality certification in the US".
  35. ↑ "UWC Operational Results for 4Q and 12M 2017".
  36. ↑ "UWC 2016 Annual report" (PDF).
  37. ↑ "Public Joint Stock Company "Research and production corporation "United Wagon Company", ordinary share (UWGN)".
  38. ↑ "UniWagon to hold secondary public offering".
  39. ↑ "United Wagon Company raises in SPO RUB 1.9 bln".
  40. ↑ "IP Department Awards".
  41. ↑ "AAR Silver Members".
  42. ↑ "AIVSD corporate members".
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