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Standard Car Truck Company (Park Ridge, Illinois) announced today, Thursday October 18th, 2007, that they have formed a Joint Venture (JV) with Tian Rui Group Foundry Company Ltd. to market globally cast steel railway wheels for railway rolling stock. The JV agreement was signed by the Chairmen of Standard Car Truck Company and Tian Rui, Mr. Richard Mathes and Mr. Li Liu Fa respectively, in Chicago where the JV company “Barber Tian Rui Railway Supply Company” will be located. Tian Rui, the largest producer of rail freight car truck castings in one foundry operation in the world, will commission a new state of the art cast wheel plant by the end of 2007. The plant located in Ruzhou City, Henan Province in China initially will have an annual capacity of 400,000 wheels and will be expanded to meet market demand in China and internationally. Tian Rui’s innovative manufacturing techniques and steel processing and raw material supply is expected to make it a benchmark low cost producer. Tian Rui is a major cement manufacturer in China, with its own power plants and coal and iron ore resources. Standard Car Truck Company is a world leader in freight car truck designs, stabilizer systems, railroad freight car trucks and locomotive components. The JV Company is expected to begin supply in early 2008. Mr. Mathes remarked, “This joint venture will enable our company to grow significantly by adding cast steel railway wheels, a product which is currently in short supply globally, with our already expansive product offering.” McDermott Will & Emery served as counsel to Standard Car Truck Company.
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