On September 19, 2016, the board of directors of the Research and Production Corporation United Wagon Company (RPC UWC) made a decision to set up a subsidiary Uniwagon North America Corp. in the state of Delaware, RPC UWC reported.

RPC UWC will hold a 100-percent equity stake in the new company. The board of directors also amended the terms and conditions of the surety agreements made previously.

RPC UWC, established in 2012, is an integrated railway holding that specializes in the manufacturing, transportation, leasing, engineering, maintenance, as well as operations of new generation freight cars.

In 2015, the company produced 12,400 innovative railcars, which constituted an increase of 28 percent year-on-year. As of January 1, 2016, RPC UWC operated a fleet of more than 27,200 railcars.

RPC UWC has the most advanced production facilities in the industry. The Tikhvin Freight Car Building Plant, located in Tikhvin, Leningrad region, is the company’s production center that has an annual production capacity of 16,000 railcars (to increase to 22,000 by end-2016) and 30,000 car-sets. Other parts of the UWC rail holding include NPC Springs that satisfies the company’s demand for heavy-duty rail springs used for innovative bogies, as well as UWC’s own engineering center. RPC UWC also has a network of over 40 service centers across Russia, Kazakhstan, and Belarus.

The IFRS net loss of RPC UWC for the first half of 2016 went down 2.58 times to RUB1.995 billion (USD30 million) from the figure of RUB5.144 billion (USD80 million) that was observed in the corresponding period of 2015. Revenues increased by 38.2 percent to RUB23.533 billion (USD360 million) from RUB17.028 billion (USD260 million); ope-rating profits rose 8.32 times to RUB2.747 billion (USD40 million) from RUB330.131 million (USD5.10 million); and losses before tax decreased 3.22 times to RUB1.643 billion (USD30 million) from RUB5.295 billion (USD80 million).

According to AK&M Information Agency’s DataCapital information retrieval system, the RAS net profit of RPC UWC for the first half of 2016 increased 2.09 times to RUB71.578 million (USD1.11 million) from RUB34.245 million (USD530 million) for the corresponding period of 2015. Revenues decreased by 23.34 percent to RUB607.403 million (USD9.38 million) from RUB792.308 million (USD12.24 million); sales profits went down 2.16 times to RUB84.256 million (USD1.30 million) from RUB181.649 million (USD2.81 million); and pre-tax profit grew 2.29 times to RUB103.17 million (USD1.59 million) from RUB45.059 million (USD700,000).