According to several overseas media reports, such as Reuters, Germany's Siemens AG and Canada's Bombardier Inc. are negotiating to merge some businesses. The two companies hope to achieve a strong alliance and jointly respond to the competition from the powerful rival CRRC.
A person familiar with the matter told Reuters that the two companies intend to combine the combined business into a joint venture. The combined business includes: train manufacturing and signal control business, with annual sales of $ 16 billion, which is half of China CRRC.
"Negotiations are ongoing and considerable progress has been made," one of the people told Reuters.
US media said the deal could be concluded mid-year and is worth at least 10 billion euros (about 10.6 billion U.S. dollars).