On Friday, U. K. technology and engineering group Invensys PLC entered into Westrace signaling technology deal with CSR Corp., a Chinese train rolling stock manufacturer and agreed to work together for selling of broader train control and signaling techniques.
Invensys Chief Executive Ulf Henriksson expressed his happiness by saying that this deal between CSR and TEG will help TEG in gaining access to rail infrastructure and to invest in the mass transportation system in China and in the rest of the world as well.
He added that the Company's train control and signaling technology in conjunction with the CSR's experience in manufacturing rolling stock will be one of the best offers for the rail operators throughout the world.
This deal will help Invensys to look into new business opportunities in China, Southeast Asian, Indian and Middle Eastern markets.
According to Invensys, the agreement will help them to participate in the growing Chinese mass transit market worth EUR670 million per year.
At 0805 GMT, at FTSE 100 index, the shares of Invensys gained by 5.3% or up by 15 pence. The shares had retarded by 2.1% since the start of 2010.
FTSE 100 has jumped by 60.01 points crossing the 5600 points to 5600.15 points. Kazakhmys gained 35p to £14.00, African Barrick Gold jumped by 5.5p to 605.5p.
Further, 3i lost by 4p to 278p.
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