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Company News, 2018-07-10, 01:40 PM

thyssenkrupp and CRRC sign MOU on technology cooperation

thyssenkrupp AG and CRRC Corporation Ltd. (China Railway Rolling Stock Corporation) have signed a Memorandum of Understanding (MoU) during the Sino-German Economic and Technologies Cooperation Forum yesterday. The scope of cooperation shall include technology research targeting applications in the fields of smart mobility, magnetic technology, environmental protection and renewable energy.

The forum was jointly organized by the Chinese National Development and Reform Committee and the German Federal Ministry of Economics and Energy. It was addressed by both Premier Li Keqiang and Chancellor Angela Merkel.

The MOU focusses on digital processes and innovative solutions in the area of mobility. Key areas include smart data and model based maintenance strategies for plants and trains, advanced power and energy conversion, storage and control technologies. The agreement lays a foundation for the companies to extend project cooperation, establish collaborative R&D Institutions and jointly develop domestic and overseas markets.

“With revenues of about 27 billion Euros, CRRC is the world's largest supplier of rail transit equipment as well as one of the largest industrial groups. Over years, we have established a fruitful cooperation basis.” says Reinhold Achatz, Chief Technology Officer of thyssenkrupp. “Cross industrial cooperation plays an important role especially in digitalization. Even global enterprises like thyssenkrupp or CRRC have to be prepared to collaborate and to learn from partners.”

Wang Jun, Vice President of CRRC: “The two companies enjoy individual strength in various areas and certain complementation in some others, which provides the basis for deepening the relationship. I see a bright future ahead.”

thyssenkrupp is a diversified industrial group with traditional strengths in materials and a growing share of capital goods and services businesses. Around 158,000 employees in nearly 80 countries work with passion and technological expertise to develop high-quality products and intelligent industrial processes and services for sustainable progress. Their skills and commitment are the basis of our success. In fiscal year 2016/2017 thyssenkrupp generated sales of around €41,5 billion. Together with our customers we develop competitive solutions for the challenges of the future in the areas Mechanical, Plant and Materials. With our engineering expertise we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-friendly way. For us, technical progress and innovations, allied with the combined strength of the Group, are key factors enabling us to meet current and future customer and market requirements around the world, grow on the markets of the future, and generate strong and stable earnings, cash flows and value growth.

Twitter: @thyssenkrupp_en

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