Wabtec from US buys a locomotive assembly plant in KazakhstanThe US-based Wabtec has acquired a 50% stake in Lokomotiv Kurastyru Zauyty JSC (LKZ) for $81 million to become the sole owner of this plant, according to the company’s financial statements.“During the fourth quarter, Wabtec acquired the remaining 50% of the Company’s joint venture, Lokomotiv Kurastyru Zauyty (LKZ), for $81 million, net of cash received,” the company’s financial report says.Before the acquisition, Wabtec owned a 50% stake in LKZ and the other 50% was held by Russia’s TransMashHolding, which came under American sanctions.Lokomotiv Kurastyru Zauyty manufactures and markets Evolution locomotives for Kazakhstan, Kyrgyzstan, Tajikistan, Ukraine, Turkmenistan and Azerbaijan.During his official visit to United States in September 2023, President of Kazakhstan Kassym-Jomart Tokayev held in New York a meeting Wabtec President and CEO Rafael Santana to discuss possible cooperation in revitalizing Kazakhstan’s railway industry. Tokaye welcomed the company's commitment to invest nearly $1 billion in the transport and logistics sector saying that this significant investment would contribute to advancing the Trans-Caspian International Transport Route and serve as a foundation for other infrastructure projects.Wabtec (Westinghouse Air Brake Technologies Corporation) is a Fortune 500 company and global leader in transportation and logistics. The company has over 27,000 employees across 50+ countries. (ICE ALMATY)

Fonte notizia: INTERFAX