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]
In 2015, the company merged with CSR to form CRRC.
In 2008 China CNR was incorporated as the subsidiary of CNR Group (China Northern Locomotive & Rolling Stock Industry (Group) Corporation).[3] China ChengTong Holdings Group and China Huarong Asset Management were minority shareholders.[4] In the same year CNR Dalian's CKD7C were exported to the Republic of Congo.
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 ~35billion 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 ~$26billion) 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]
