China CNR Corporation Limited (CNR) was a primary manufacturer of locomotives and rolling stock for the Chinese market. The company has also exported to over 80 countries and regions,including Argentina,Australia,Brazil,France,Hong Kong,New Zealand. Saudi Arabia,Taiwan and Turkey.[1][2]
The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.[5][6]
From the early 21st century onwards the group began a strategic diversification into wind turbine manufacture - its first major new facility was a 500 turbine per year capacity factory in Songyuan,(built 2009–11),established through CNR Wind Power Co. The company expects to invest ~35 billion Yuan in CNR Wind Power to establish a full scale wind power industry.[7][8]
In October 2014,CNR made a major breakthrough into the North American market by winning a $567 million contract to supply 284 metro cars for the Massachusetts Bay Transportation Authority's Orange (Type B car) and Red (Type A car) lines,with an option for 58 more. CNR plans to dedicate two manufacturing lines at a Chinese facility and build a 150,000 square-foot facility in Springfield,Massachusetts for final assembly of the vehicles.[12][13]
At the end of 2014 CNR and rival CSR announced their intention to merge,with CSR acquiring CNR shares at a ratio of 1 CNR:1.1 CSR;the resultant company (value ~$26 billion) was to be named CRRC.[14][15] The two companies formally merged on 1 June 2015.[16]
Manufacturing and research subsidiaries
The corporation has numerous subsidiaries at various sites in China:[17]
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