EXIM Supports Exports of Wabtec Locomotives from Erie, Pennsylvania, to Cameroon
July 18, 2019
(Ex-Im Bank)
Washington, D.C. – Wabtec Corporation is
selling four diesel-electric locomotives to
Cameroon Railways (Camrail) in Cameroon with
the backing of a total of $13 million in loan
guarantees from the Export-Import Bank of the
United States (EXIM).
Two EXIM medium-term guarantees, approved in
May, will support loans from Standard Chartered
Bank in New York for the purchase of four
C30ACi locomotives manufactured at Wabtec’s
facility in Erie, Pennsylvania. The borrower is
Cameroon’s Ministry of Economy, Planning, and
Regional Development. The Wabtec locomotives
will be used on passenger trains as part of
Camrail’s fleet renewal and modernization
plan.
To draw attention to the White House’s Made
in America Week, EXIM is showcasing companies
such as Wabtec whose success in exporting
illustrates how American businesses—small and
large—contribute to U.S. economic prosperity
by sustaining and creating jobs in the United
States.
The Wabtec transactions also demonstrate
EXIM’s commitment to meeting the agency’s
congressional mandate to increase support for
U.S. exports to the vital and growing markets
of sub-Saharan Africa.
The former Cameroon National Railway was
privatized and concessioned to Camrail in 1999.
Camrail, which is majority privately owned,
owns all rolling stock and is responsible for
overseeing all freight and passenger
operations, along with freight-rail
investments. The Cameroonian government has
responsibility for investments related to
passenger rail.
Wabtec Corporation is a
leading global provider of equipment, systems,
digital solutions and value-added services for
freight and transit rail. Drawing on nearly
four centuries of collective experience across
Wabtec, GE Transportation, and Faiveley
Transport, the company has unmatched digital
expertise, technological innovation, and
world-class manufacturing and services,
enabling digital-rail and transit ecosystems.
Along with its portfolio of products and
solutions for the rail and transit industries,
Wabtec is a leader in mining, marine, and
industrial solutions. Wabtec has approximately
27,000 employees worldwide.
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