Schaffner Group Wins Important Order from China
28 November 2008
The Schaffner Group (SIX Swiss Exchange: SAHN) has been selected as the main supplier by Bombardier Transportation for delivery of power quality components for deployment in locomotives on Chinese railroads. The order, in the mid-single-digit million euro price range, began to be delivered in 2009 and will be completed in 2011. The order will positively impact the Schaffner Group’s results from the second half of the 2008/2009 business year.
Expansion of the railroad infrastructure is one of the priorities in the Chinese government's current five-year plan. The plan provides for total investments in locomotives alone of around CHF40bn, a two-and-a-half fold increase on the previous five-year plan.
With infrastructure projects China also offers further sustainable growth potential for the Schaffner Group in the areas of renewable energies — wind and solar power. The current order reaffirms Schaffner's strong position on the Chinese domestic market.
