CFR Marfa-Siemens contract in need of cash

Germany’s Siemens AG, one of the largest industrial groups in Europe, signed the 98 million euro contract to supply 40 Diesel locomotives to CFR Marfa in April. At the moment, CFR Marfa is negotiating the funding for this contract with German West LB Bank, and the outcome of the entire contract depends on this, as explained by sources close to the business. Siemens is therefore including a new order from CFR in its portfolio after the contracts concluded with CFR Calatori and CFR Infrastructura and consolidates its position as the leading supplier for railway infrastructure in Romania after 1989. The contracts Siemens closed with Romanian railway companies are now worth more than 450 million euros, so that the Germans are far ahead of General Motors and Alstom (France) in this respect. ZF