The Signing Ceremony of EEB to Increase Capital on FITSCO Was Held in Beijing.
In the morning of
September 8, 2018, the signing ceremony of EEB to increase capital on FITSCO
was held in China Railway Electrification Bureau (Group) Co. Ltd, known as “EEB”,
in Beijing. The signing ceremony was hosted by Shen Jiujiang who is the
vice-general manager of EEB.
In the presence of
Chief Engineer Kong Dun of China Railway Group Limited and General Manager Ma Jie of China Huaxin
Post and Telecom Technologies Co., Ltd. (hereinafter referred to as "China
Huaxin"), Wei Guo, Secretary of the Party Committee and Chairman of EEB; Guan
Jingzhi, Vice General Manager of China Huaxin, general manager of Shanghai
Fortune Telecommunication Technology Development Co., Ltd (“Shanghai Fortune”
for short), chairman of Fuxin Intelligent Transportation Solutions Co., Ltd (FITSCO
for short); and Wu Hao, general manager of FITSCO, signed equity cooperation
agreements on behalf of the companies respectively.
According to this
agreement, EEB achieves the strategic holdings to FITSCO. FITSCO will be a
platform to form more strategic cooperation between EEB and China Huaxin. The parties
to the interests of shareholders will give their full support to FITSCO to
carry out independent and innovative rail transit business, and to create a
leading domestic and internationally competitive intelligent transportation
control enterprise.
Representatives Signed the Agreement
At the ceremony, kong Dun, Chief Engineer of China Railway Group Limited, Ma Jie, General Manager of China Huaxin and Li Aimin, General Manager of EEB made speeches respectively
Kong Dun, Chief Engineer of
China Railway Group Limited
Ma
Jie, General Manager of China Huaxin
Li Aimin, General Manager of EEB
the Signing Was Hosted by Shen
Jiujiang, Vice-General Manager of EEB
EEB is a
wholly-owned subsidiary of China Railway Group Limited. It was founded with the
construction of the first electrified railway in China. It is a leading
enterprise in the field of railway and rail transit electrification in China. FITSCO, (former Shanghai
Bell Transportation Solutions Division), is a rising star in the field of rail
transit with its own intellectual property rights, signaling and communication
solutions covering the whole life cycle of the project.
In the past ten
years, EEB and FITSCO have had lots of successful project cooperation. The
cooperation this time at the capital level will integrate the strong brand
resource, market resources of EEB and its electrical & mechanical
technology consisting such subsystems as traction power supply, electricity,
with the communication and signaling technology of FITSCO, so as to complement
and share the advantages of the two parties and win together.
About EEB
China Railway
Electrification Bureau (Group) Co., Ltd, known as EEB, was founded in 1958 with
the first ever electrified railway–Baoji-Chengdu railway commenced on. It has
experienced 56 fantastic years. EEB is one of the key members of China Railway
Group Ltd., which is one of the world top 500 enterprises and brand names. It
is also the backbone and fore runner of the electrified railway company in
China.
During the 59
years since it was established, EEB has accumulatively constructed and put into
operation more than 30,000km electrified railway, which approximately reaches
80% of the total length of electrified
railway under operation in China. EEB has also constructed many high speed
railways, such as Beijing-Tianjin, Beijing-Shanghai, Wuhan-Guangzhou,
Harbin-Dalian and so on, accounting for around 70% of the total high speed
railway in length in China. EEB plays a significant role and makes great
contribution in making China the second top electrified railway country and the
first of high speed railway in length in the world.
About FITSCO
Shanghai Fuxin
Intelligent Transportation Solutions Co., ltd. (“FITSCO” for short) was established
in Feb. 2012
Since 2005, FITSCO
(former Shanghai Bell Transportation Solutions Division) has successively
undertaken the construction of rail transit signaling and communication system
for Beijing Metro Line 4, Beijing Daxing Line, Shanghai Metro Line 6, 7, 8, 9, 11,
and other constructions in cities like Guangzhou, Wuhan etc. To expand our
business, the company has set up subsidiaries in Suzhou and Guangxi (wholly
owned subsidiary), and Shandong (joint venture), and has set up a branch in
Changzhou as well.
FITSCO mainly
provides urban rail transit signaling and communication solutions on fields
like metros, rubber tire vehicles (monorails, suspended monorails, APMs),
trams, commuter trains. In Apr. 2014, FITSCO’ s complete CBTC signaling system
was issued the highest level of security authentication certificate by a third party
authority. Soon in Nov. 2014, FITSO was issued the bidding qualification on
urban rail transit signaling system by the China’s National Development and
Reform Commission. For the past few years, FITSCO has successively undertaken
the Comprehensive Signaling and communication construction for Shanghai Metro
Line 8 Phrase Ⅲ, Shanghai Pudong Airport Express Project, Qingdao Metro Line
6 Project(TACS), as well as many constructions on Tram signaling and
communication integration projects in Shanghai, Suzhou, Huai’an and Wuhan etc.