Schaffner Group Confirms Major Order for High-Speed Trains in China
17 September 2009
The Schaffner Group (SIX Swiss Exchange: SAHN) will supply, in a first batch to be delivered by mid-2010, transformers and reactors valued in the upper single-digit millions for new high-speed trains currently under construction for the Chinese national railway.
The large contract reconfirms the Schaffner Group's standing as a leading supplier of magnetic components to the international rail technology sector. “This major order will significantly strengthen Schaffner's position in what is today the world's biggest market for high-speed trains,” explained Alexander Hagemann, chief executive officer of the Schaffner Group.
Schaffner will supply transformers and reactors to Siemens, which is delivering components such as the electronics equipment and undercarriages for the high-speed trains being constructed in China with local Chinese partners. China commissioned the construction of 100 modern high-speed trains in the first quarter of 2009.
The high-tech trains being built in China have a top speed of 350km/hr, comprise 16 coaches totalling around 400m in length, and will have the capacity to carry over 1,000 passengers. They are scheduled to go into operation in 2010 on the new 1,300 km track running between Beijing and Shanghai, and will cover the distance in 4hr.
