GE Transportation Completes 50% Purchase Of Kazakhstan Locomotive Manufacturer
13 April 2017
GE Transportation has completed the purchase of a 50% interest in locomotive manufacturer Lokomotiv Kurastyru Zauyty (LKZ) from Kazakhstan’s national railway company, KTZ.
“We have been working with GE Transportation for more than ten years and, during this time, produced over 300 Evolution Series locomotives,” said Kanat Alpysbayev, president of KTZ. “These locomotives, which are built locally, are used on Kazakhstan’s railways and operated throughout the CIS region. We look forward to furthering GE Transportation’s presence in the region.”
“Kazakhstan has a strategic plan for its railroad to support economic growth and increased regional trade, and today’s announcement underscores GE’s commitment to working with KTZ to ensure that Kazakhstan’s rail infrastructure remains modern and reliable,” said GE Transportation President and CEO Jamie Miller. “We are excited to become a shareholder of LKZ and look forward to driving continued infrastructure improvements across the country, and bringing the most advanced locomotive technology to the CIS region.
Lokomotiv Kurastyru Zauyty (LKZ) was formed in 2009. It was a 50/50 joint venture between KTZ and Russia’s largest rail equipment producer, Transmashholding (TMH). LKZ manufactures GE Evolution Series locomotives for freight and passenger transportation in Kazakhstan and the broader CIS region.
Today’s announcement demonstrates GE’s long-term commitment to support the region’s sustainable development by bringing global expertise, localized advanced technologies and investments in manufacturing.
Terms were not disclosed.
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