OREANDA-NEWS. On January 30, Kirov Group and JSC Kryukov Railway Car Building Works (Ukraine) signed constituent documents on the establishment of LLC Kirov-KVSZ, a joint venture for the production of subway escalators and rail transport.

The Russian-Ukrainian company will specialize in the manufacture and supply of escalators and subway trains, as well as high-speed interregional and suburban trains. The parties will own equal shares in the enterprise's authorized capital. The new company's products will come into the market under the brand name "Kirov-KVSZ".

The Head office and central production site of the joint venture will be located on the territory of Kirovsky Zavod in St. Petersburg. During the first stage, the partners will focus on the production of escalators and modern subway trains with induction traction motor drive.

The constituent documents on the joint venture establishment were signed in Saint Petersburg, by Georgy Semenenko, Director General of the Kirov Group, and Vladimir Prikhodko, President of JSC Kryukov Railway Car Building Works.

The strategic partnership will form the basis for uniting the partners' efforts in developing and launching new high-tech products, using the experience, know-how and developments of the two enterprises, and will also enable to strengthen the companies' positions on the markets of Russia, Ukraine and CIS countries.