DOCSLIB.ORG

Corporate Social Responsibility Report 2016 Speech by the General Manager

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Corporate Social Responsibility Report 2016 Speech by the General Manager Notes On 28 March 2016, the Company announced the change of name from “Zhuzhou CSR Times Electric Co., Ltd. (株洲南車時代 電氣股份有限公司)” to “Zhuzhou CRRC Times Electric Co., Ltd. (株洲中車時代電氣股份有限公司)”. For better expression and reading, Zhuzhou CRRC Times Electric Co., Ltd. is represented as “CRRC Times Electric”, “the Company” or “we” in this report. The report is prepared with references to Environmental, Social and Governance Reporting Guide issued by The Stock Exchange of Hong Kong Limited, Guideline on Sustainable Development Report of the Global Reporting Initiative (GRI), Guideline on Social Responsibilities of Industries (GSRI-China) and “the Ten Principles” of the UN Global Compact, and based on the actual situation of CRRC Times Electric. Unless otherwise specified, the report covers the time from 1 January 2016 to 31 December 2016. The currency used herein is RMB. The report covers the Company’s headquarter and share-holding subsidiaries but not including joint stock companies, using the same scope, boundary and calculation methods as the previous reports. This report is a faithful reflection of the Company’s active fulfillment of its economic, environmental and social responsibilities and its full implementation of the sustainable development strategy. It is a report of full disclosure of the Company’s management performance related to stakeholders’ concerns and expectations. All the information and data therein are collected from the Company’s official documents, statistical reports and sustainable development practices of functional departments and subordinate units. This report is published in both Chinese and English versions. If there are discrepancies between the two versions, the Chinese version shall prevail. Headquarter Address: Shidai Road, Zhuzhou City, Hunan Province, China. Electronic Version Available at: www.tec.crrczic.cc Content SPEECH BY THE GENERAL MANAGER ............................................................................................................. 6 PART I COMPANY PROFILE AND GOVERNANCE ........................................................................................... 8 I. COMPANY PROFILE ...................................................................................................................................... 8 1. Introduction ........................................................................................................................................... 8 2. The Main Economic Performance of the Company in 2016 ..................................................................... 9 II. CORPORATE GOVERNANCE ......................................................................................................................... 13 1. Corporate Governance Mechanism ........................................................................................................ 13 1.1 Corporate Organizational Structure ......................................................................................................... 13 1.2 Company’s Governance System ............................................................................................................13 2. Risk Management and Internal Control ................................................................................................... 14 2.1 Risk Management and Internal Control Organizational System ................................................................. 15 2.2 Risk Management System ..................................................................................................................... 15 2.3 Supervision and Improvement ................................................................................................................ 16 3. Corruption Combat and Advocacy of Integrity ......................................................................................... 16 3.1 Focus on Building Culture of Integrity, Strengthening the Awareness in Integrity and Creating an atmosphere of Integrity .................................................................................................. 16 3.2 Staying alert all the time and Preventing Crime with Education ................................................................. 17 3.3 Solid and Effective Promotion of Risk Prevention and Control Measures for Integrity and Implementation of Specific Effectiveness Monitoring .........................................................................17 3.4 Taking the opportunities brought by the CRRC Inspection to Strengthen Internal Management Regulation and Conduct Self-Check with Full Force .............................. 17 3.5 Setting Up a Smooth Petition System and Implementing Verification of the Petitions Raised by Whistle Blowing .............................................................................................. 18 3.6 Strengthening the Rotation of Key Positions and Reinforcing Risk Management and Control ..................... 18 III. IMPORTANT HONORS OF THE COMPANY .................................................................................................... 18 IV. CORPORATE VALUE AND STAKEHOLDERS .................................................................................................. 21 1. Corporate Values ................................................................................................................................... 21 2. Concerns of Stakeholders ..................................................................................................................... 21 3. Materiality Analysis ................................................................................................................................. 22 V. OPPORTUNITIES AND CHALLENGES ............................................................................................................ 23 PART II TECHNOLOGICAL INNOVATION AND PRODUCT LIABILITY ............................................................ 25 1. TECHNOLOGICAL INNOVATION .................................................................................................................... 25 1. Introduction to Technical Research and Development ............................................................................. 25 1.1 R&D Management Mechanism............................................................................................................... 25 1.2 Investments in Scientific Research ......................................................................................................... 26 1.3 R&D Team and Advantages of Hardware Resources ............................................................................... 26 Content 2. Technological R&D Results .................................................................................................................... 26 2.1 Reporting .............................................................................................................................................. 26 2.2 Patents ................................................................................................................................................. 27 2.3 Awards ................................................................................................................................................. 27 3 Management of Significant Projects ........................................................................................................ 27 4. Innovation Influence ............................................................................................................................... 28 II. PRODUCT LIABILITY ...................................................................................................................................... 29 1. Product Quality Management ................................................................................................................. 29 1.1 Quality Management System and Certification ........................................................................................ 29 1.2 Quality Monitoring Method ..................................................................................................................... 31 2. After-sales Service ................................................................................................................................. 34 2.1 After-sales Service Network ................................................................................................................... 34 2.2 After-sales Service Implementation System ............................................................................................. 34 2.3 After-Sales Service Team Management .................................................................................................. 35 3. Customer Satisfaction Survey and Customer Complaints ........................................................................ 35 3.1 Customer Satisfaction ........................................................................................................................... 35 3.2 Customer Loyalty .................................................................................................................................. 36 3.3 Customer Complaints ............................................................................................................................ 36 4. Product Safety ...................................................................................................................................... 37 4.1 Guarantee of Product Safety (Reliability)
Load more

Recommended publications
  • Annual Report 2019 Mobility
    (a joint stock limited company incorporated in the People’s Republic of China with limited liability) Stock Code: 1766 Annual Report Annual Report 2019 Mobility 2019 for Future Connection Important 1 The Board and the Supervisory Committee of the Company and its Directors, Supervisors and Senior Management warrant that there are no false representations, misleading statements contained in or material omissions from this annual report and they will assume joint and several legal liabilities for the truthfulness, accuracy and completeness of the contents disclosed herein. 2 This report has been considered and approved at the seventeenth meeting of the second session of the Board of the Company. All Directors attended the Board meeting. 3 Deloitte Touche Tohmatsu CPA LLP has issued standard unqualified audit report for the Company’s financial statements prepared under the China Accounting Standards for Business Enterprises in accordance with PRC Auditing Standards. 4 Liu Hualong, the Chairman of the Company, Li Zheng, the Chief Financial Officer and Wang Jian, the head of the Accounting Department (person in charge of accounting affairs) warrant the truthfulness, accuracy and completeness of the financial statements in this annual report. 5 Statement for the risks involved in the forward-looking statements: this report contains forward-looking statements that involve future plans and development strategies which do not constitute a substantive commitment by the Company to investors. Investors should be aware of the investment risks. 6 The Company has proposed to distribute a cash dividend of RMB0.15 (tax inclusive) per share to all Shareholders based on the total share capital of the Company of 28,698,864,088 shares as at 31 December 2019.
    [Show full text]
  • Enabling Green Mobility Key Group Figures 2020 2019 915.5 938.2 Orders Received € Mill
    ANNUAL REPORT 2020 Enabling green mobility Key Group figures 2020 2019 915.5 938.2 Orders received € mill. 594.5 549.2 Order backlog € mill. Income statement data 869.7 916.4 Sales revenues € mill. 375.3 351.7 Core Components € mill. 401.8 473.2 Customized Modules € mill. 103.8 106.0 Lifecycle Solutions € mill. 123.1 105.5 EBITDA (2019 adjusted) € mill. 14.2 11.5 EBITDA margin (2019 adjusted) % 73.1 55.7 EBIT (2019 adjusted) € mill. 8.4 6.1 EBIT margin (2019 adjusted) % (14.4) (18.5) Net interest result € mill. 58.7 (56.1) EBT € mill. 20.8 (136.8) Net income € mill. 0.98 (8.32) Earnings per share € 1 8.4 (4.2) Return on capital employed % 1 12.4 (105.4) Value added € mill. Balance sheet data 2 696.2 659.2 Fixed assets € mill. 68.7 59.8 Capital expenditure € mill. 50.0 86.4 Depreciation/amortization € mill. 155.3 180.3 Closing working capital € mill. 851.5 839.5 Closing capital employed € mill. 414.5 403.6 Equity € mill. 15.9 9.4 Noncontrolling interests € mill. 307.4 321.3 Net financial debt € mill. 351.3 370.4 Net financial debt (including lease liabilities) € mill. 1,216.5 1,331.4 Total assets € mill. 34.1 30.3 Equity ratio % Cash flow statement data 112.9 39.3 Gross cash flow € mill. 56.1 12.3 Cash flow from operating activities € mill. (3.0) (15.5) Cash flow from investing activities € mill. (67.4) 28.1 Cash flow from financing activities € mill.
    [Show full text]
  • Final Program of CCC2020
    第三十九届中国控制会议 The 39th Chinese Control Conference 程序册 Final Program 主办单位 中国自动化学会控制理论专业委员会 中国自动化学会 中国系统工程学会 承办单位 东北大学 CCC2020 Sponsoring Organizations Technical Committee on Control Theory, Chinese Association of Automation Chinese Association of Automation Systems Engineering Society of China Northeastern University, China 2020 年 7 月 27-29 日，中国·沈阳 July 27-29, 2020, Shenyang, China Proceedings of CCC2020 IEEE Catalog Number: CFP2040A -USB ISBN: 978-988-15639-9-6 CCC2020 Copyright and Reprint Permission: This material is permitted for personal use. For any other copying, reprint, republication or redistribution permission, please contact TCCT Secretariat, No. 55 Zhongguancun East Road, Beijing 100190, P. R. China. All rights reserved. Copyright@2020 by TCCT. 目录 (Contents) 目录 (Contents) ................................................................................................................................................... i 欢迎辞 (Welcome Address) ................................................................................................................................1 组织机构 (Conference Committees) ...................................................................................................................4 重要信息 (Important Information) ....................................................................................................................11 口头报告与张贴报告要求 (Instruction for Oral and Poster Presentations) .....................................................12 大会报告 (Plenary Lectures).............................................................................................................................14
    [Show full text]
  • 2019 Annual Results Announcement
    B_table indent_3.5 mm N_table indent_3 mm Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 3898) 2019 ANNUAL RESULTS ANNOUNCEMENT The board of directors (the “Board”) of Zhuzhou CRRC Times Electric Co., Ltd. (the “Company” together with its subsidiaries, the “Group”) is pleased to announce the audited results of the Group for the year ended 31 December 2019. This announcement, containing the main text of the 2019 annual report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of annual results. The 2019 annual report of the Company will be despatched to the H-Share holders of the Company and will also available for viewing on the website of the Stock Exchange at http://www.hkex.com.hk and on the website of the Company at http://www.tec.crrczic.cc on or before 30 April 2020. By order of the Board Zhuzhou CRRC Times Electric Co., Ltd. Li Donglin Chairman Zhuzhou, China, 27 March 2020 As at the date of this announcement, our chairman of the Board and executive director is Li Donglin, our vice chairman of the Board and executive director is Yang Shouyi, our other executive directors are Liu Ke’an and Yan Wu, our non-executive director is Zhang Xinning, and our independent non-executive directors are Chan Kam Wing, Clement, Pao Ping Wing, Liu Chunru, Chen Xiaoming and Gao Feng.
    [Show full text]
  • 中國中車股份有限公司 CRRC CORPORATION LIMITED (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1766)
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國中車股份有限公司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 1766) 2019 INTERIM RESULTS ANNOUNCEMENT The board of directors of CRRC Corporation Limited (the “Company”) is pleased to announce the unaudited results of the Company and its subsidiaries for the six months ended 30 June 2019. This announcement, containing the main text of the 2019 interim report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of interim results. The 2019 interim report of the Company and its printed version will be published and delivered to the H shareholders of the Company and available for view on the websites of the Stock Exchange at http://www.hkex.com.hk and of the Company at http://www.crrcgc.cc on or before 30 September 2019. By order of the Board CRRC Corporation Limited Liu Hualong Chairman Beijing, the PRC 29 August 2019 As at the date of this announcement, the executive directors of the Company are Mr. Liu Hualong, Mr. Sun Yongcai and Mr.
    [Show full text]
  • Topnotch Chinese Railway Vehicles for World
    14 BUSINESS Monday, July 23, 2018 CHINA DAILY HONG KONG EDITION GOING GLOBAL Top­notch Chinese railway vehicles for world sub­branch in Austria in 2016, Deal to supply opening itself to the conti­ locomotives to nent’s high­end market through international acquisi­ Germany speeds tions and collaborations. Eager to further compete up CRRC unit’s with other established global rivals such as Siemens of Ger­ planet­wide push many and Bombardier of Cana­ da, CRRC Zhuzhou built a $131 By ZHONG NAN million manufacturing facility [email protected] in Malaysia’s Perak state in 2015, which is managed by “German trains always run CRRC (Malaysia) Railway Vehi­ on time” — that old saying cles and will act as the compa­ may soon be modified in the ny’s gateway to other member digital era to “Made­in­China states of the Association of trains in Germany always run Southeast Asian Nations. on time”. The plant is capable of man­ Hunan­based CRRC Zhuz­ ufacturing various types of rail hou Locomotive Co Ltd stud­ vehicles, from bullet trains to ied Germany’s obsession with mass­transit trains and elec­ precision, strict schedules and tric locomotives. technical finesse before seal­ “Many countries have ing in late June a deal with unique or different require­ Deutsche Bahn to export 20 ments for railway projects. hybrid shunting locomotives. This makes it difficult for For the first time, Chinese them to self­develop railway whole­vehicle rail transit products that meet their spe­ equipment will be exported to cific demands. China’s vast Germany.
    [Show full text]
  • 中國中車股份有限公司crrc Corporation Limited
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國中車股份有限公司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock code: 1766) OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT IN RELATION TO SIGNING CONTRACTS This overseas regulatory announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. CRRC Corporation Limited (the “Company”) has entered into certain contracts for the period from January 2021 to March 2021 with an aggregate value of approximately RMB23.11 billion. Details of such contracts are set out below: 1. Certain subsidiaries of the Company engaged in the MUs business have entered into contracts with relevant railway administration companies of China State Railway Group Co., Ltd. (中國國家鐵路集團有限公司) respectively in relation to the sales of MUs with an aggregate value of approximately RMB8.69 billion. 2. CRRC Changchun Railway Vehicles Co., Ltd. (中車長春軌道客車股份有限公司), a non-wholly-owned subsidiary of the Company, has entered into contracts with Chongqing Rail Line 18 Construction and Operation Co., Ltd. (重慶軌道十八號綫 建設運營有限公司), the Operation Headquarter of Shenzhen Metro Group Co., Ltd. (深圳市地鐵集團有限公司運營總部) and Guangzhou Metro Group Co., Ltd. (廣州 地鐵集團有限公司), respectively, in relation to the sales, renovation and renewal of metro cars with an aggregate value of approximately RMB2.93 billion.
    [Show full text]
  • Connect the World Through Better Mobility CRRC Corporation Limited (CRRC)
    Connect the World through Better Mobility CRRC Corporation Limited (CRRC) Preparation instructions Table of contents As the third annual Social responsibility report released since the establishment of CRRC, this Report accurately reflects the Company’s 04 Message from the economic, social and environmental responsibilities aiming to achieve Chairman comprehensive, coordinated and sustainable development. 06 About us 08 Social responsibility management 38 58 Reporting period 11 Sustainable operation From January 1, 2017 to December 31 2017, some of the contents may be BUILDING A SHOULDERING beyond the above period. BEAUTIFUL RESPONSIBILITIES Reporting scope ENVIRONMENT AS A CORPORATE The Report covers the corporate headquarters and its subordinate CITIZEN enterprises. Sources 22 All information data hereunder has been sourced from the Company's CREATING official documents, statistical reports and financial reports, as well as the social responsibility information organised,summarised and reviewed by AN ICONIC the Company. BRAND Basis for the Report The Report has been prepared under the Guidelines for Central Enterprises to Fulfill Social Responsibilities and the Implementation Guidelines for the Twelfth Five-year Plan for Harmonious Development of Central Enterprises issued by SASAC, the Environmental, Social and Governance Reporting Guide issued by the Hong Kong Stock Exchange, the Environmental Information Disclosure of Listed Companies and the Guidelines for Compiling Corporate Social Responsibility Reports issued by the Shanghai Stock Exchange, the Preparation Guidelines for China Corporate Social Responsibility Reports (CASS- CSR4.0) issued by the Chinese Academy of Social Sciences, the Sustainability Reporting Guidelines issued by Global Reporting Initiative (GRI), and the Guidance on Social Responsibility (ISO 26000) issued by the International Organization for Standardization.
    [Show full text]
  • 2020 Annual Results Announcement
    B_table indent_3.5 mm N_table indent_3 mm Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 3898) 2020 ANNUAL RESULTS ANNOUNCEMENT The board of directors (the “Board”) of Zhuzhou CRRC Times Electric Co., Ltd. (the “Company” together with its subsidiaries, the “Group”) is pleased to announce the audited results of the Group for the year ended 31 December 2020. This announcement, containing the main text of the 2020 annual report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) in relation to information to accompany preliminary announcements of annual results. The 2020 annual report of the Company will be despatched to the H-Share holders of the Company and will also available for viewing on the website of the Stock Exchange at http://www.hkex.com.hk and on the website of the Company at http://www.tec.crrczic.cc on or before 30 April 2021. By order of the Board Zhuzhou CRRC Times Electric Co., Ltd. Li Donglin Chairman Zhuzhou, China, 30 March 2021 As at the date of this announcement, our chairman of the Board and executive director is Li Donglin, our vice chairman of the Board and executive director is Liu Ke’an, our other executive directors are Shang Jing and Yan Wu, our non-executive director is Zhang Xinning, and our independent non-executive directors are Chan Kam Wing, Clement, Pao Ping Wing, Liu Chunru, Chen Xiaoming and Gao Feng.
    [Show full text]
  • 中國中車股份有限公司 CRRC CORPORATION LIMITED (A Joint Stock Limited Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 1766)
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. 中國中車股份有限公司 CRRC CORPORATION LIMITED (a joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock code: 1766) ANNOUNCEMENT ON CONNECTED TRANSACTION ESTABLISHMENT OF A JOINT VENTURE ESTABLISHMENT OF GUOCHUANG COMPANY The Board hereby announces that, on 16 January 2019, Zhuzhou Locomotive, Zhuzhou Institute and Zhuzhou Electric, all of which are wholly-owned subsidiaries of the Company, entered into Agreement I with Zhuzhou Holding (an indirect wholly-owned subsidiary of CRRC GROUP) and other Independent Third Parties to establish Guochuang Company by way of joint contribution pursuant to the terms and conditions of Agreement I. Upon completion of the Transaction, Zhuzhou Locomotive, Zhuzhou Institute, Zhuzhou Electric and Zhuzhou Holding will hold 15%, 12%, 9% and 5%, respectively of the equity interests of Guochuang Company, which shall not become a subsidiary of the Company. PREVIOUS JV ESTABLISHMENTS In accordance with Agreement II, CRRC Tangshan, a wholly-owned subsidiary of the Company, together with CRRC GROUP, CRRC Environmental & Technology (a subsidiary of CRRC GROUP) and other Independent Third Parties, shall establish Quanzhou CRRC Water Co., Ltd.* by way of joint contribution. In accordance with Agreement III, CRRC Shandong, a wholly-owned subsidiary of the Company, together with CRRC GROUP and other Independent Third Parties, shall establish Jingjiang CRRC Water Co., Ltd.* by way of joint contribution.
    [Show full text]
  • CRRC Zhuzhou Locomotive Optimizes Designs with Their Customer in Real Time Thanks to ESI IC.IDO
    www.esi-group.com CRRC Zhuzhou Locomotive Optimizes Designs with Their Customer in Real Time Thanks to ESI IC.IDO Driver reach analysis with ESI IC.IDO Challenge of CRRC Corporation, China’s largest research and manufacturing CRRC ZELC received an order to develop a high quality, low-floor company of electric locomotives. They are the leading enterprise in electric locomotive, along with the rolling stock, in the shortest Hunan’s rail transport industry, which is valued at roughly 129 billion timeframe possible. The validation and optimization of the product Euro and coined ‘Home of China’s Electric Locomotives’. CRRC ZELC required an ergonomic product design and assembly process. To needed a new solution to improve their product development and help do this, CRRC ZELC needed a solution to conduct human factors them meet strict deadlines given by their clients. analyses and ensure the quality and progress of the product Overall, the client required an improvement of the product’s criteria, an development. efficient assembly process and an interior and exterior color matching evaluation. As is typical for low-floor electric locomotives, the customer Benefits expected a significantly customized product and set unique customer- With ESI IC.IDO, CRRC ZELC improved the efficiency of the product specific requirements. development and subsequent assembly. The engineering team Before implementing ESI’s Virtual Reality solution, IC.IDO, CRRC ZELC could conduct accurately the ergonomic analysis for each region’s used physical prototypes for validation of the ergonomics of their users all across the country. Moreover, their client was able to locomotives’ design and manufacturing process.
    [Show full text]
  • Rkh Assisted Crrc Zhuzhou Locomotive on Its Entrance Into the European Railway Rolling Stock Market by Acquiring Vossloh Locomotives
    RKH ASSISTED CRRC ZHUZHOU LOCOMOTIVE ON ITS ENTRANCE INTO THE EUROPEAN RAILWAY ROLLING STOCK MARKET BY ACQUIRING VOSSLOH LOCOMOTIVES Hamburg, 28. August 2019 Raschke von Knobelsdorff Heiser (RKH) advised CRRC Zhuzhou Locomotive Co., Ltd., Zhu- zhou, China (CRRC ZELC), a subsidiary of the state-owned China Railway Rolling Stock Corpo- ration Ltd., Beijing, China (CRRC), on the acquisition of Vossloh Locomotives GmbH and its various European subsidiaries from the listed Vossloh AG. The completion of the transaction is still subject to customary closing conditions, including the approval of the competent German, French and Chinese regulatory authorities. CRRC ZELC was founded in 1936 and belongs to the CRRC group, the world’s largest manufac- turer and supplier of locomotives, rail vehicles and rail equipment. CRRC avails of 46 subsidiaries and over 180,000 employees worldwide; its annual revenues amounted to USD 37.8 billion in 2015. With the mission of connecting the world through better mobility and the aim of interna- tionalization, diversification and innovation, CRRC strive to become the world’s leading provider of high-end rail vehicles and system solutions for the railway sector. Vossloh Locomotives, with headquarter in Kiel, Germany, has built up a leading position on the European market as a manufacturer and full-service provider of diesel locomotives based on dec- ades of experience, expertise and sustainability. It avails of subsidiaries in Italy, France and Swe- den. The locomotives business unit is the last one remaining from the original three business units of the transportation division that Vossloh AG has been divesting since the decision was made to strategically focus on rail infrastructure in 2014.
    [Show full text]