Breaking News

3 Big European Oil Companies Get Negative Outlook From S&P Over Price of Crude
Tweet TWEET

GE Transportation, Locorail and Yakutia Railways Sign Memorandum of Understanding to Explore a Strategic Relationship to

  GE Transportation, Locorail and Yakutia Railways Sign Memorandum of
  Understanding to Explore a Strategic Relationship to Modernize Locomotives
  in Russia

  *GE Transportation, Locorail and Yakutia Railways explore a strategic
    relationship to modernize locomotives for mainline and shunting
    operations.
  *GE Transportation to provide FDL engine kits to Locorail and Yakutia
    Railways.
  *GE Transportation to work with Yakutia Railways in Aldan to provide
    service maintenance of modernized locomotives.

Business Wire

ERIE, Pa. -- February 1, 2013

GE Transportation, Locorail and Yakutia Railways in Russia announced today
that they have signed a Memorandum of Understanding (MOU) to explore the
possibility of forming a strategic relationship to modernize diesel electric
locomotives. The MOU creates a framework by which Yakutia Railways, under GE
license, will modernize diesel electric locomotives at Yakutia Railways
facility in Aldan, Russia utilizing GE FDL engine kits manufactured at GE
Transportation facilities in Erie and Grove City, PA. USA. Under the
agreement’s framework, GE Transportation will supply a minimum of 20 FDL
engine kits per year over five years.

GE Transportation will work with Locorail and Yakutia Railways to provide
expert service training to maintain and overhaul the modernized FDL engines.
GE Transportation will provide support to address specific improvements that
include tooling and equipment at the Yakutia Railways facility in order to
provide maximum availability of GE modernized diesel-electric locomotives in
the Locorail and Yakutia Railway fleet.

Lorenzo Simonelli, President and CEO of GE Transportation, said: “GE
Transportation has been partnering with regional locomotive builders to
produce the most technologically advanced and fuel efficient locomotives
worldwide. GE along with its local partners has a long history of modernizing
locomotives as well as building new locomotives in Kazakhstan and the CIS
region. This agreement will provide the framework to provide Locorail and
Yakutia Railway the ability to provide reliable locomotive service to the
region for decades. We look forward to providing GE Transportation’s advanced
locomotive technology and contributing to the Republic of Sakha’s  sustainable
infrastructure growth for many years to come.”

GE works to power and move the Commonwealth of Independent States (CIS) region
with GE’s most technologically advanced, fuel efficient, cost effective, and
reliable locomotives to-date. Currently there are approximately 600  GE
locomotives and modernized locomotives in operation in the CIS region. The
need for safe, reliably maintained locomotives has become increasingly
important. Through the initiatives laid out in the framework of the MOU,
Locorail and Yakutia Railways will realize significant improvements in the
performance of their locomotive fleets.

About GE Transportation

GE Transportation, a unit of GE (NYSE: GE), solves the world’s toughest
transportation challenges. GE Transportation builds equipment that moves the
rail, mining and marine industries. Our fuel-efficient and lower-emissions
freight and passenger locomotives, diesel engines for rail, marine and
stationary power applications, signaling and software solutions, drive systems
for mining trucks, and value-added services help customers grow. GE
Transportation is headquartered in Erie, Penn., and employs approximately
12,000 employees worldwide. For more information visit
www.getransportation.com.

Contact:

GE Transportation
Michael Ricci, +1-814-875-4104 (office)
michael.ricci@ge.com
or
GE RUCIS
Elena Ushakova, Press-secretary, +7 495 739 69 19
elena.ushakova@ge.com
 
Press spacebar to pause and continue. Press esc to stop.