CSR Corporation denied rumors of its merger with China CNR Corporation , reports dfdaily.com, citing a filing by CSR Corporation.
According to Financial Times, the merger may lead to the creation of a monopoly controlling 90 percent of the domestic rail road equipment manufacturing market with sales revenue exceeding those of Bombardier, Alstom, and Siemens. The merged company is expected to become the world’s largest supplier of rail road equipment.
According to public figures, construction on China’s high-speed railway projects in Myanmar, Thailand, Laos will start in 2011 while some Chinese companies plan to bid for eight high-speed railway projects being planned for in the U.S..
CSR Corporation aims to record sales revenue of 150 billion yuan in 2015 while CNR Corporation plans to achieve 2015 sales revenue of 140 billion yuan.