China CNR wins 13 supply contracts

BEIJING - China CNR Corp, the country's second-largest train maker, said on Monday that it has signed 13 supply contracts with customers both at home and abroad.

The total value of the 13 contracts amounted to 7.24 billion yuan ($1.15 billion), or 8.1 percent of the company's revenues in 2011, according to a statement filed to the Shanghai Stock Exchange.

Of the contracts, five were signed between CNR and the Ministry of Railways. At 5.08 billion yuan, these contracts accounted for 70.17 percent of the total contract value.

Meanwhile, CNR signed three export contracts with Australian and US customers worth 459 million yuan, accounting for six percent of the total contract value, the statement said.

CNR was created following a reorganization of the China Northern Locomotive and Rolling Stock Industry (Group) in 2008. Its products are used in over 40 countries and regions.