Trade & Investment
Chinese investment helps revive German insolvent rail system company
Last Updated: 2018-10-16 15:46 | Xinhua
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Chinese investment, together with a Swiss partner, has helped a 120-year-old insolvent German rail system company back to life, the chief executive officer (CEO) of Molinari Rail Systems GmbH told Xinhua on Monday.

"At the end of 2016 before the acquisition, the situation of the railway systems company in the (German city of) Dessau was not very good. It had already been at the edge of insolvency for half a year," said Jan Harder.

Harder is very proud that, in the past two years, Molinari Rail Systems has made a comeback in the German rail industry as a reliable partner.

A total of 45 employees were kept on after the acquisition. Nowadays that number has grown to over 70, said He Hao, managing director of Molinari Rail Systems GmbH.

"This is of course a very important aspect for the region, because we have not only kept the old colleagues, but also recruited new ones," Harder said proudly.

Harder is also very confident about the future, saying "we are on the good path."

He said the business venture with China was a means to reach profitability, to grow, and to become a bigger player in the rail sector in Europe and worldwide.

"At the end of the day, the main target of our work is to improve the comfort of passengers in their daily travels," Harder said.

Molinari Rail Systems GmbH, a Sino-Swiss joint venture, acquired the insolvent German enterprise Fahrzeugtechinik Dessau in November 2016.

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