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MarketScreener Homepage  >  Equities  >  Xetra  >  Knorr-Bremse AG    KBX   DE000KBX1006

KNORR-BREMSE AG

(KBX)
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Höhere Verfügbarkeit: Knorr-Bremse und Bombardier verlängern Vertrag zur europaweiten Wartung mehrerer Hundert Lokomotiven

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09/30/2020 | 04:30am EDT

Press release

Munich, September 30, 2020

Greater availability: Knorr-Bremse and Bombardier extend service agreement for several hundred locomotives throughout Europe

  • Knorr-Bremseand Bombardier Transportation extend Europe-wide service contract for the maintenance of braking systems on TRAXX locomotives by a further five years
  • Contract has a potential sales volume in the low tens of millions (EUR)
  • Agreement extension underpins long-standing partnership with the vehicle manufacturer

Munich, September 30, 2020 - Knorr-Bremse, the global market leader for braking and other systems for rail and commercial vehicles, has signed an extension of its comprehensive service agreement for TRAXX locomotives with Bombardier Transportation. Up to the end of 2025, Knorr-Bremse RailServices will be responsible for overhauling the braking systems of several hundred TRAXX rail vehicles maintained by Bombardier Transportation Service.

"We are very pleased about the service contract concluded with Bombardier for Europe-wide locomotive maintenance, which has now been extended," explains Mark Cleobury, Member of the Management Board of Knorr-Bremse Rail Vehicle Systems. "In this way, Knorr-Bremse is playing a key role in optimizing maintenance costs, improving availability and enhancing the performance of locomotives in freight and passenger transport. Moreover, we are supporting Bombardier in the holistic life cycle management of its vehicles in Europe."

Under the service agreement, Knorr-Bremse RailServices will overhaul and repair the braking systems of several hundred TRAXX locomotives currently under maintenance contract with Bombardier Transportation Service. Equipped with braking systems from Knorr-Bremse, the locomotives are currently in operation in countries including Germany, Italy, Spain, France, and Poland.

Keeping TRAXX locomotive fleets running safely and reliably throughout Europe Knorr-Bremse RailServices will support Bombardier Transportation in supplying materials and performing repair and overhaul work on the vehicles. Maintenance of Knorr-Bremse components will be carried out at the main plant in Berlin, in close cooperation with the Mödling site in Austria. Throughout the service life of the vehicles, components required for the air supply, brake control and bogie equipment, among other things, must be regularly checked and serviced for correct condition and functionality. With its systems and solutions expertise as an aftermarket partner, Knorr-Bremse RailServices thus contributes to the safe, reliable and efficient operation of locomotive fleets over their entire life cycle.

The contract was originally signed in September 2010 with an initial term of five years and was extended in mid-2014, prior to maturity, until the end of 2020. In light of their long- standing, successful cooperation, the two partners have now decided to extend the agreement for a further five years, up to the end of 2025.

Caption: Knorr-Bremse and Bombardier Transportation extend Europe-wide service contract for the maintenance of braking systems on TRAXX locomotives by a further five years | © Bombardier Transportation

Knorr-Bremse (ISIN: DE000KBX1006, Ticker symbol: KBX) is the global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems. Knorr-Bremse'sproducts

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make a decisive contribution to greater safety and energy efficiency on rail tracks and roads around the world. About 29,000 employees at over 100 sites in more than 30 countries use their competence and motivation to satisfy customers worldwide with products and services. In 2019, Knorr-Bremse's two divisions together generated revenues of EUR 6.9 billion (IFRS). For more than 115 years the company has been the industry innovator, driving innovation in mobility and transportation technologies with an edge in connected system solutions. Knorr-Bremse is one of Germany's most successful industrial companies and profits from the key global megatrends: urbanization, sustainability, digitization and mobility.

Contact:

Alexandra Bufe

Knorr-Bremse AG

Head of Corporate Communications

Moosacher Straße 80

Tel: +49 (0)89 3547 1402

D-80809 Munich

E-mail: alexandra.bufe@knorr-bremse.com

www.knorr-bremse.com

Julian Ebert

Knorr-Bremse AG

Trade Press, Rail Vehicle Systems

Moosacher Straße 80

Tel: +49 (0)89 3547 1497

D-80809 München

E-mail: julian.ebert@knorr-bremse.com

www.knorr-bremse.com

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Disclaimer

Knorr-Bremse AG published this content on 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 07:29:06 UTC


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