China announces completion CSR Corp & CNR merger to create world’s biggest rail conglomerate

The new company will be called CRRC Corporation Limited and Xi Guohua, CNR’s former president, will become its president

Shanghai: Chinese trainmakers CSR Corp Ltd and China CNR announced the completion of their merger on Monday and named Cui Dianguo, the former chairman of CNR, as the newly formed company’s chairman.

The two companies halted trading on May 7 to proceed with creating the world’s biggest rail conglomerate in terms of sales through a share swap merger.

The swap was completed on May 28 and the companies exchange business licences on Monday, they said in a statement.

The new company will be called CRRC Corporation Limited and Xi Guohua, CNR’s former president, will become its president, CRRC said in a separate statement. CSR’s former chairman Zheng Changhong and president Liu Hualong will be CRRC’s vice-chairmen, it added.

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