Schaffner Group receives additional major order for high-speed trains in China

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Schaffner Group receivesadditional major order for high-speed trains in China

Delivery of magnetic components in the high single-digit millions

The Schaffner Group confirms that it has received a major order to ship a second tranche of transformers and reactors for the construction of high-speed trains for the Chinese National Railway. This order, with a value in the in the high single-digit millions, is to be completed by mid-2011.

The major order for a second shipment of components for the Chinese National Railway's new high-tech trains confirms the Schaffner Group's standing as a leading supplier of magnetic components to the international rail technology sector. “The extension of this major order in what is currently the world's biggest market for high-speed trains will significantly strengthen Schaffner's position on this key market,” explains Alexander Hagemann, Chief Executive Officer of the Schaffner Group.

As in its first shipment, the Schaffner Group will supply transformers and reactors to the Siemens Group. Siemens is delivering components such as the electronics equipment and undercarriages for the high-speed trains being constructed in China with local Chinese partners.

The high-tech trains that are being built in China will traverse the new 1,300 km route running between Beijing and Shanghai in four hours at speeds of up to 350 km/h.

Luterbach, April 26, 2010

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