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Railhub Archive
2009-02-12 ERA-001
Express Rail Alliance


Statement from Express Rail Alliance

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InterCity Express Programme

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Express Rail Alliance

Statement from Express Rail Alliance

12 February 2009
source Express Rail Alliance
type Press release

LONDON, February 12 /PRNewswire/ -- We are extremely disappointed not to have been awarded preferred bidder status for the UK Government's Intercity Express programme led by the Department for Transport.

The members of the Express Rail Alliance (ERA) consortium, which includes the UK train manufacturer Bombardier together with Siemens, Angel Trains and funds managed by Babcock & Brown, have spent 18 months developing a compliant, competitively-priced, innovative and sustainable solution, which would have significantly benefitted the rail manufacturing economy in the UK and Europe.

The ERA consortium feels that at this point in time, it would be inappropriate to comment further.

About Bombardier Transportation

Bombardier Transportation has its global headquarters in Berlin, Germany with a presence in over 60 countries. It has an installed base of over 100,000 vehicles worldwide. The Group offers the broadest product portfolio and is recognized as the leader in the global rail sector.

About Bombardier

A world-leading manufacturer of innovative transportation solutions, from commercial aircraft and business jets to rail transportation equipment, systems and services, Bombardier Inc. is a global corporation headquartered in Canada. Its revenues for the fiscal year ended Jan. 31, 2008, were US$17.5 billion, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is listed as an index component to the Dow Jones Sustainability World and North America indexes. News and information are available at http://www.bombardier.com.

About Siemens in the UK:

Siemens was established in the United Kingdom 166 years ago and employs 18,402 people in the UK. Last year's revenues were GBP3.7 billion. As a leading global engineering and technology services company, Siemens provides innovative solutions to help tackle the world's major challenges, across the key sectors of energy, industry and healthcare. Siemens has offices and factories throughout the UK, with its headquarters in Frimley, Surrey. The company's global headquarters is in Munich, Germany. For more information, visit http://www.siemens.co.uk

As part of Siemens in the UK, Siemens Mobility employs around 1800 people, providing expertise and technology in rolling stock, rail infrastructure, traffic solutions and infrastructure logistics to the UK transport industry.

In Rolling Stock, Siemens Mobility provides and maintains passenger trains for First TransPennine Express, South West Trains, Heathrow Express, National Express East Anglia, Northern Trains and London Midland.

With proven capability in rail automation, Siemens Mobility has recently delivered a major re-signaling project in the Portsmouth areas, traction power upgrades across the UK and new telecommunications systems in London and the west of England. It is also developing the GSM-R cab radio solution for the entire UK rolling stock fleet.

For more information on Siemens Mobility please visit http://www.siemens.co.uk/mobility.

Siemens AG: Siemens Mobility Division (Erlangen, Germany) is the internationally leading provider of transportation and logistics solutions. With its "Complete mobility" approach, the Division is focused on networking the various modes of transportation in order to ensure the efficient transport of people and goods. "Complete mobility" combines the company's competence in operations control systems for railways and traffic control systems for roadways together with solutions for airport logistics, postal automation, traction power supplies and rolling stock for mass transit, regional and mainline services, as well as forward-looking service concepts. http://www.siemens.com/mobility

Siemens Project Ventures GmbH (SPV) is a Group company of Siemens Financial Services. Together with renowned partners, SPV has with equity capital contributions been involved worldwide in the development of infrastructure projects, particularly in the energy, transport and telecommunication sectors. SPV has already participated in the development of 10 international power plant projects with an overall capacity of more than 6,600 MW as well as in three telecommunication projects and an airport, with a cumulative project volume of 7 billion USD.

About Siemens Financial Services

Siemens Financial Services (SFS) is an international provider of financial solutions in the business-to-business area. With about 1,900 employees and an international network of financial companies coordinated by Siemens Financial Services GmbH, Munich, we support Siemens as well as non-affiliated companies, focusing on the three sectors of energy, industry and healthcare. We finance infrastructure, equipment and working capital and act as a competent manager of financial risks within Siemens. By leveraging our financ-ing expertise and our industrial know-how we create value for our customers and help them strengthen their competitiveness. For more information see: http://www.siemens.com/finance.

About Babcock & Brown

Babcock & Brown is an international investment and specialised fund and asset management group with longstanding capabilities in structured finance and the creation, syndication and management of asset and cash flow-based investments. Babcock & Brown was founded in 1977 and is listed on the Australian Securities Exchange.

Babcock & Brown operates from 32 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1,400 employees worldwide.

For further information about Babcock & Brown please see our website: http://www.babcockbrown.com

About Angel Trains Ltd

Angel Trains Ltd is a leading lessor of railway rolling stock in the UK and has over ten years' experience in financing and procuring new-build trains. It has invested nearly GBP3 billion in both new trains and the refurbishment of existing trains and is one of the largest private sector investors in the UK rail industry.

Some of its key deals include the GBP708 million investment in 477 Class 390 Pendolino vehicles for Virgin Trains, which has subsequently been supplemented by orders for a further 106 class 390 Pendolino vehicles, worth GBP269 million and GBP718 million investment in 733 Class 450 and Class 444 Desiro vehicles for South West Trains.

For more information about Angel Trains Ltd please visit our website: http://www.angeltrains.co.uk

Railhub Archive ::: 2009-02-12 ERA-001


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