Transmashholding
| Company type | Closed joint-stock company |
|---|---|
| Industry | Locomotive and railway equipment manufacturing |
| Founded | 2002 |
| Headquarters | Russia , Russia |
Area served | Russia, Germany, Argentina, Bulgaria, Belarus, Egypt, Kazakhstan, Serbia |
Key people | Kirill Lipa (CEO since October 2021), Dmitry Komissarov (former Chairman of the Board until October 2023), Andrei Bokarev (former President until April 2022) |
| Products | Locomotives, railway equipment, subway cars, passenger diesel locomotives, diesel engines, freight wagons, flatcars, diesel multiple units, electric train sets, locomotive and marine diesel engines, casting components for railcars |
| Owner | Russian investors (since May 2024) |
CJSC Transmashholding () stands as Russia's foremost producer of locomotives and railway equipment. Following its consolidation with LocoTech service, it has become the world's fourth-largest engineering firm specializing in transport technologies.
The corporation manages 14 manufacturing and engineering plants within Russia, alongside an additional facility in Germany and investment interests in Argentina.
History
Founded in 2002, CJSC Transmashholding reported revenues of 130 billion rubles in 2012, marking a 22% growth compared to the previous year.
In December 2015, Russian Railways (RZD) sanctioned the disposal of its controlling stake exceeding 25% (held through The Breakers Investments BV), while Alstom raised its ownership share to 33%.
By December 2017, Transmashholding invested USD 3 million to acquire and renovate the Mechita workshops located in Bragado, Argentina. This acquisition forms part of a broader planned investment of USD 200 million aimed at manufacturing railway components and rolling stock, conditional upon securing significant SOFSE contracts. The company’s revenue had reached 103 billion rubles by 2021.
In February 2021, TMH reached an agreement to purchase Bergen Engines from Rolls-Royce for roughly 150 million euros; however, the transaction was blocked by the Norwegian government citing national security issues.
In September 2023, Transmashholding was placed under sanctions by both the Ukrainian government and the United States Department of the Treasury.
Ownership
As of 2018, Breakers Investments B.V., a holding company registered in the Netherlands, held full ownership of Transmashholding. Within this structure, Alstom owned a 20% share, while approximately 79.4% was controlled by entities linked to Iskander Makhmudov, Andrei Bokarev, Dmitry Komissarov, and Kirill Lipa. By October 2021, Komissarov and Lipa emerged as the principal controlling shareholders.
In January 2024, Alstom divested its stake to Russian investors, resulting in Transmashholding becoming entirely Russian-owned by May 2024.
Andrei Bokarev served as President until April 2022 when he stepped down following sanctions. Dmitry Komissarov held the position of Chairman of the Board until October 2023. Kirill Lipa has been serving as CEO since October 2021.
Activities
Transmashholding maintains close cooperation with JSC Russian Railways—its primary client—as well as with Russia’s Ministry of Transportation and other federal bodies including those responsible for Industry and Energy, Economic Development and Trade, and Finance.
Its product portfolio includes subway cars, passenger diesel locomotives, diesel engines, freight wagons, flatcars, and diesel multiple units. The company’s prominent international markets encompass Bulgaria, Belarus, Egypt, Kazakhstan, Serbia, and previously Ukraine.
Products
The company manufactures a range of products such as diesel shunting locomotives, mainline and electric industrial locomotives, passenger and freight rolling stock, electric train sets, locomotive and marine diesel engines, casting components for railcars, among others. Notably, it has supplied rail vehicles for both the Warsaw Metro and Baku Metro systems.
In October 2021, Transmashholding announced plans to commercially introduce a new double-decker shuttle train model.
Russia-based companies
Transmashholding's organizational framework encompasses several prominent Russian industrial enterprises:
- Novocherkassk Electric Locomotive Plant (NEVZ) – Recognized as Russia's foremost manufacturer of electric locomotives.
- Bryanskiy Machine-building Plant – A key producer specializing in diesel shunting locomotives, freight wagons, and marine diesel engines.
- Kolomensky Zavod – Engaged in manufacturing diesel locomotives, engines, and generators.
- Demikhovsky Machine-building Plant – A significant manufacturer of electric multiple units.
- Metrovagonmach – Producer of urban metro EMUs, railcars, and trucks.
- Penzadieselmash – Based in Penza, this plant manufactures diesel and gas generator sets.
- Bezhitskiy Staleliteiniy Plant – Specializes in steel castings, including coupling components.
- Oktyabrskiy Electrovagonoremontniy Plant – Focused on the modernization and overhaul of passenger rolling stock.
- Tsentrosvarmash – The largest Russian manufacturer of welded products used in bogies, superstructures, bridges, and mining machinery.
- Transconverter – A joint venture with Siemens AG, producing electrical equipment for railway vehicles.
- KMT Industrial group – Engaged in the design and production of passenger vehicle components.
- Tverskoy Vagonostroitelniy Zavod (TVZ) – Develops and manufactures locomotive-hauled passenger cars (with a 25% ownership stake).
- VELNII – An electric locomotive design institute acquired in 2009.
Bombardier
On 25 May 2007, Transmashholding (TMH) and Bombardier signed an agreement in Sochi to create a joint engineering center. By May 2008, they had established joint entities under Bombardier Transportation Transmashholding AG for locomotive manufacturing: an engineering design center named Transmashholding Bombardier Transportation (Engineering) Rus and a production facility for inverter drives using Bombardier’s MITRAC technology called Transmashholding Bombardier Transportation (Industrial) Rus.
Knorr-Bremse
In April 2007, TMH partnered with Knorr-Bremse to form a Russian joint venture dedicated to the manufacturing, sales, and servicing of rail vehicle braking systems throughout Russia and the Commonwealth of Independent States.
Alstom
In December 2007, TMH and Alstom agreed to establish joint ventures for producing railway components within Russia. By October 2008, they launched a 51:49 joint venture named TMH-Alstom DV focused on double-decker coach manufacturing. On 31 March 2009, Alstom acquired a 25% stake in TMH’s capital holding company, contributing technical expertise to upgrade TMH’s production facilities and develop new locomotive platforms while TMH retained over 75% of manufacturing responsibilities.
In April 2013, Alstom and TMH inaugurated a joint plant in Novocherkassk for producing asynchronous traction motors intended for electric locomotives operating in Russia and Kazakhstan. By late 2015, Alstom increased its ownership in TMH from 25% to 33% through a €54 million investment. In January 2024, Alstom divested its shares to Russian investors.
Siemens
Established in April 2005 as a joint venture with Siemens, Transconverter produces high-voltage static converters for railway applications.
RVNL
In 2022, Transmashholding partnered with Rail Vikas Nigam (RVNL) to establish the Kinet Railway Systems consortium, aiming to participate in the Government of India's tender for producing Vande Bharat sleeper cars designed for the Vande Bharat Express service. This consortium secured the contract by submitting the most competitive bid to deliver 200 sleeper trainsets to Indian Railways.
Hungary-DJJ
In June 2020, TRANSMASHHOLDING acquired Dunakeszi Jármű Javító (Dunakeszi Vehicle Repair Plant) from the Hungarian government, collaborating with Magyar Vagon Zrt. Following this acquisition, the plant's initial significant project involved manufacturing 680 passenger coaches for Egyptian National Railways (ENR), in cooperation with TMH's Tver Carriage Works. Additionally, in 2020, the facility obtained a four-year agreement with Hungarian State Railways to provide maintenance and modernization services for 403 coaches.
TMH-Argentina
TMH's Argentine branch, located in Vicente López, Buenos Aires, caters to Argentina and broader South American markets. It produces components such as diesel engines and oversees the repair and modernization of railway infrastructure and rolling stock. This subsidiary operates as a joint venture with Trenes Argentinos Infraestructura.
In May 2018, TMH invested US$3 million to upgrade the Mechita workshops in Bragado. The company earned a contract to refurbish carriages on the San Martin Line and perform maintenance on CSR SDD7 locomotives at Mechita. TMH revealed intentions to invest $70 million over five years, potentially expanding to $170 million over a decade, for rolling stock production and repair at this facility under a 30-year concession agreement.
Former subsidiaries
- From 2006 until 2008, Fahrzeugtechnik Dessau was part of Transmashholding before being acquired by Romanian company CTF at the close of 2008.