GE Transportation and EuroMaint Rail Announce European Service Alliance

GE Transportation and EuroMaint Rail today announced an alliance to collaborate on rolling stock services and technology for the rail industry that will provide European rail customers with an unprecedented level of service capabilities.

"We are very excited about this opportunity and our continued investment in the European rail market,” said Lorenzo Simonelli, President and CEO of GE Transportation. "This is another major step in GE Transportation’s more than 100-year history in the rail industry.”

EuroMaint Rail, with headquarters in Stockholm, Sweden, also has more than a century of experience in providing maintenance for all types of rolling stock. The company is an independent service provider to the rail industry, supplying whole-life services for rolling stock, including infrastructure work machines, component overhaul and logistics solutions. EuroMaint Rail is owned by Ratos, one of Europe’s largest listed private equity companies.

"This collaboration offers a clear win-win opportunity for both organizations and our customers,” said Mats Önner, CEO of EuroMaint Rail. "We bring our rolling stock maintenance network, component servicing expertise, spare parts logistics and experience in developing reliable maintenance solutions into a collaboration which I believe will show European customers the value of increased rolling stock availability, while strengthening both companies’ European growth ambitions, as the deregulation of the European rail industry continues,” said Önner.

Jim Hilderhoff, General Manager of GE Transportation’s Global Service business, said, "Combining our locomotive and service technology expertise with EuroMaint Rail’s rolling stock experience enables us to offer our customers the first pan-European service offering for all rolling stock types."

In addition to providing service for existing fleets, the alliance also will provide a strong regional service network for GE’s new European PowerHaul^® Locomotive. The PowerHaul Locomotive is projected to cut fuel use by up to 9% compared to current operating fleet averages. GE will deliver the first PowerHaul Locomotives in the fourth quarter of this year to Freightliner Group Ltd. in the United Kingdom. Freightliner Group placed an order for 30 PowerHaul Locomotives, the largest order of freight locomotives in the company’s history.

GE Transportation offers a full range of aftermarket solutions from technical support to comprehensive service agreements that deliver sustainable locomotive performance, consistent budget planning and investment protection. GE maintains more than 10,000 locomotives for railroad customers around the globe, providing service and materials distribution from 60 facilities worldwide.

About GE Transportation

Established more than 100 years ago, GE Transportation, an operational unit of General Electric Company (NYSE: GE), is a global technology leader and supplier to the railroad, marine, drilling, mining and wind power industries. GE Transportation provides freight and passenger locomotives, signaling and communications systems, information technology solutions, marine engines, motorized drive systems for mining trucks and drills, high-quality replacement parts and value added services. GE Transportation is headquartered in Erie, Pa., and employs approximately 10,000 employees worldwide. For more information visit www.getransportation.com.

About EuroMaint Rail

EuroMaint Rail strengthens its customers’ competitiveness via services and products that increase the availability, reliability and service life of rolling stock. The company offers qualified technical maintenance and refurbishment of rolling stock and its components. The Head Office is located in Solna, Sweden. The company has 1,450 employees and annual revenue of EUR 200 million. EuroMaint Rail is part of the EuroMaint Group. For more information visit www.euromaint.com.