The articles of association for the company were signed by the President of the Management Board, Wojciech Balczun, and the Management Board Member for International Affairs, Daniel Ryczek, on behalf of PKP CARGO S.A., and by Jia Shirui, President and Managing Director of Jinan Railway Vehicles Equipment.
– The main goal of our cooperation is the European market, and we will make every effort to ensure that the venture is as effective as possible – said Jia Shirui during the official signing of the agreement.
PKP CARGO and Jinan Railway Vehicles Equipment each took a 50% stake in the company. CNR Cargo Wagon Sp. z o.o. is an SPV (Special Purpose Vehicle) company established to carry out analytical and formal work leading to the launch of railcar assembly in Szczecin using parts imported from China.
– Parts would be imported to Poland by sea, which is why the location of the plant in Szczecin is ideal – says President Wojciech Balczun.
The task of CNR Cargo Wagon will include conducting an analysis of the absorptive capacity of the European market and attempting to estimate the demand for railcars, both from PKP CARGO and potential external customers, and consequently, the amount of investment required to launch production at the Szczecin plant. The next step will be to develop a detailed business plan for the venture. The activities of CNR Cargo Wagon will culminate in the creation of a target Joint-Venture entity, which will handle the assembly of railcars in Szczecin.
– By the end of this year, we should determine the demand for railcars that would be built in Szczecin from PKP CARGO. We hope that the assembly itself could be launched by the end of 2011 – says Daniel Ryczek, PKP CARGO Management Board Member for International Affairs. PKP CARGO preliminarily estimates that, ultimately, about 100 people could find employment in railcar assembly.