From Bloomberg makret analysis on Sep 10, 2015. —
New York’s aging subway system is an irresistible draw for Yu Weiping, vice president of CRRC Corp.
New York’s aging subway system is one of multiple US transit systems that are an irresistible market draw for Yu Weiping, vice president of CRRC Corp.. I
CRRC has a market strategy that hopes to double overseas contracted sales to as much as $15 billion in the next five years. It has been targeting emerging markets in Africa, Latin America and Southeast Asia — often with sales pitches from Premier Li Keqiang– as it seeks to project influence in developing economies.
Mr Yu said he spends two-thirds of his time annually abroad looking for deals, as CRRC seeks to go global.
For now, the Springfield Massachusetts new assembly plant for transit rail sets is a showcase for the targeted company’s U.S. expansion.
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