China CNR Corporation - History

History

In 1986 the China National Railway Locomotive & Rolling Stock Industry Corporation (LORIC) was formed, comprising 35 production sites and 4 research centres. In 2000 the China Northern Locomotive & Rolling Stock Industry (Group) Corporation (also known as China Beiche Group) was formed from this group. Its main competitor, the China South Locomotive and Rolling Stock Industry (Group) Corporation was formed in 2002.

China CNR Corporation carried out import and export orders between 1998 and 2005 through the LORIC Import & Export Corp., Ltd. The subsidiary CNR Logistic Development Corp., Ltd., established in 1998 deals with export sales of CNR vehicles and parts.

In 2008 the group was reorganised into the China North Locomotive and Rolling Stock Corporation Limited (or China CNR Corporation Limited) with a minority shareholding contributed by China ChengTong Holdings Group and China Huarong Asset Management Corp.

The company made an IPO of $2bn in 2009 on the Shanghai stock exchange.

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 ~35billion Yuan in CNR Wind Power to establish a full scale wind power industry.

Read more about this topic:  China CNR Corporation

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