Tuesday, July 26, 2011

Train crash - some up-dates here

So now is "blaming time" - 3 officials already sacked. Also blamed "foreign technology" - see following info here:
quote
Bombardier falls after Chinese train crash
A high-speed train crash in China that killed at least 38 people is dragging down shares of Bombardier Inc.

While the cause of the worst rail disaster in the country since 2008 is still unknown, the trains were built by a joint venture between Bombardier and China Southern Locomotive. The signaling system was manufactured by General Electric Co.

Shares of Montreal-based Bombardier fell more than 5% to $5.80 in Monday morning trading, but some Chinese railway equipment companies declined double-digits.

“Some industry participants believe that investment in rail infrastructure will be put on hold until an official safety review takes place,” Benoit Poirier, analyst at Desjardins Securities, told clients.

He noted that Bombardier has three JVs and seven Wholly Foreign Owned Enterprises in China, under which it manufactures rolling stock, propulsion equipment and signaling equipment. It has also delivered thousands of rail cars to the Chinese market.

Bombardier generated 13% of its Transportation revenues in the Asia-Pacific region in fiscal 2011, with the majority likely related to China, Mr. Poirier noted.

“It remains to be seen if development of new rail lines in China will be compromised given the accident,” the analyst said. “However, a slowdown in the development of the very high-speed rail system could be beneficial to Bombardier’s regional aircraft business. In addition, the train crash could reduce the nascent threat of Chinese manufacturers taking market share away from Western manufacturers in international train contracts.”

Chinese state media said a high-speed train hit a second train that had lost power after being struck by lightning. Reports suggest lightning also caused a failure in the signaling system that would have warned the second train about the one in front of it.
unquote
Here some YouTube footage of how the mess was quickly removed after the accident - somebody was saying: "Made in China buried in China"
Government buried the fragments of train before investigation. Bullet train crash in China. 

2 comments:

Anonymous said...

I live in Shenzhen - come on lets keep up the pressure on this corrupt regime - demo outside DiWang Da Sha this Sunday

Anonymous said...

Are you listening Wen Jiabao?
Your people want answers - can't bury all of them
Your on borrowed time my friend
Not long to go now.