2017 looking better for production and sales – Newag Chairman

Train manufacturer Newag said that although 2016 had been a “weak” year for sales of its stock on the domestic market, he expected the situation in the industry to improve over the next several years, a report in the Polish press said on Thursday morning. The company stated that the value of its tenders averaged approximately PLN 3 billion per year over the next six years. “This year was weak for both domestic manufacturers of rolling stock, but in the next six years the situation in this industry in Poland should be much better. [Over the next four years] the expected announcement of tenders is nearly PLN 12 billion, said Zbigniew Jakubas, Chairperson of the Company and its largest shareholder. According to Jakubas, Newag is very well prepared and will be able to overcome past technical challenges with some of its products through improved testing and customer service flexibility. It stated that it will invest PLN 30 million per year in development. “The [company’s] family of vehicles was consistently built and perfected for five years. We've eliminated all the errors in our Nevelo tram, [during] Kraków testing. We have a finished product that we can still grow and adapt to the needs of individual customers,” Jakubus stated. The WSE-listed company, based in Nowy Sącz, builds and repairs both trams and locomotives.