Freshfields Bruckhaus Deringer recently advised on a suite of agreements between China South Locomotive & Rolling Stock Corporation (CSR), a major Chinese manufacturer of rolling stock, and Invensys Rail, a UK-based manufacturer of train control and signalling products.
Under the terms of a cooperation arrangement, Invensys will license Zhuzhou CSR Times Electric (TEG), a train control and signalling subsidiary of CSR, to manufacture and market its train protection and interlockings system, Westrace, in China.
In addition to the Westrace products, TEG and Invensys will work together to sell a wider range of train control and signalling products through TEG in the expanding PRC domestic mass-transit market, which is estimated to be worth almost US$500 million a year.
Invensys and CSR will also bid jointly on mass-transit projects worldwide, combining rolling stock and signalling solutions. The bidding effort will focus initially on projects in the Middle East, India and Southeast Asia.
The Freshfields team was led by corporate partner Alan Wang, and assisted by Hong Kong-based intellectual property and information technology associate Yang Xun.
