May 19, 2020

Bombardier and CD Cargo agree purchase agreement for 50 TRAXX MS3 locomotives

Canada
Bombardier
CD Cargo
sarahako ako
2 min
Bombardier and CD Cargo agree purchase agreement for 50 TRAXX MS3 locomotives

The Canada-based rail technology giant Bombardier and Czech Railways-owned CD Cargo has signed a purchase agreement for up to 50 of the latest instalment of Bombardier TRAXX Multi-System locomotives.

In a press release, Ivan Bednárik, Chairman of the Board of Directors at CD Cargo, said: “The new TRAXX MS3 locomotive will be the most modern in our fleet. Its powerful traction and cost-effective long-distance performance will support our international business strategy and be fully interoperable in both the domestic market and neighbouring countries.”

According to Bombardier, “The TRAXX MS3 locomotive is the only multi-system locomotive on the market with the Last Mile function that enables it to easily bridge non-electrified track sections found in ports or freight terminals.”

The trains have been described as being renowned for reliability and versatility, with low life-cycle costs and energy consumption.

It is believed that 54 modern, interoperable TRAXX multi-system locomotives have been ordered by Czech customers.

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Michael Fohrer, President of Region Central & Eastern Europe, Russia, Israel, CIS and China at Bombardier, said: “We are proud of the trust and confidence that our new customer CD Cargo has placed in our innovative TRAXX MS3 locomotive.”

“With this success in the Czech Republic, the order marks the entry of our new locomotive platform in the Central, Eastern and South Eastern European market. Once again, the TRAXX locomotive platform’s excellence and its track record of over 2,250 units sold has convinced another important customer.”

Bombardier is currently the second biggest rolling stock manufacturing firm in Czech Republic with over 1,000 employees at its Ceska Lipa manufacturing site, which is a vital supplier of welded components for the company’s regional and commuter trains.

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Jun 10, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
G7Summit
Sustainability
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

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