CAF

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CAF defends in statement that Jerusalem light rail contract not in violation of human rights

Renta 4 | CAF has announced the planned inclusion of the company in the UN database of companies for its participation in the Jerusalem light rail project. This document includes companies that participate, directly or indirectly, in some of the activities listed in the annual report of the United Nations High Commissioner for Human Rights. It should be noted that the project, awarded in 2019 through a 50-50 joint venture…


CAF factory

CAF to carry out refurbishment and maintenance of units on Cairo Metro for total €450 million

Link Securities | The company has signed three agreements with the National Authority for Tunnels (NAT), the state-owned company responsible for developing the metro network in Egypt, to carry out the comprehensive modernisation of 39 units on Line 2 and the maintenance of units on Lines 1 and 2 of the Cairo Metro. The volume of the operation exceeds €450 million and strengthens CAF’s presence in Egypt with new projects,…


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EIB grants €80 million loan to CAF for iR&D&I at its centres in Spain and Poland

Link Securities | The company and the European Investment Bank have signed a loan agreement for €80 million to finance the company’s research, development and innovation (R&D&I) programme, according to Expansión. The European bank’s loan will enable the train and bus manufacturer to invest in digitalisation, autonomous mobility solutions and the energy efficiency of trains and buses. All R&D&I investment will have to be made at CAF’s centres in Spain…


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CAF faces pressure from Basque government to abandon projects in Israel

Alphavalue / Divacons | CAF’s contract in Israel opens another front in the battle for control of Talgo with the Basque government. The manufacturer is facing pressure from the Lehendakari to abandon its projects in Israeli territory. A blow that comes as the takeover of its competitor is being finalised. Lehendakari Imanol Pradales has admitted that the company ‘should perhaps reflect on the ethics’ of this project. SNCB in Belgium…


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CAF subsidiary Solaris wins contract for 180 electric buses worth €150 million for city of Malmö

Link Securities | As announced yesterday by the company, Nobina Sverige AB, one of Scandinavia’s largest public transport operators, has confirmed a new contract with its subsidiary Solaris for the delivery of 180 zero-emission Urbino electric buses that will operate in the Swedish city of Malmö. The contract is worth around €150 million. CAF notes in its statement that this is one of the largest orders for electric buses in…


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Alstom appeals selection of CAF to renew Belgium’s train fleet again, despite national operator’s decision to continue process

Norbolsa | Alstom is again appealing the tender for the Belgian SNBC contract despite the operator’s decision to continue with the process (still unsigned). The Council of State (administrative court) has set a hearing for 29 August, at which Alstom will face SNBC. The appointment of CAF to renew the Belgian fleet, a project with an assessed value of between €1.7 billion and €3.5 billion, prompted Alstom, which has two…


CAF trolleys

Belgian operator SNCB confirms CAF as preferred bidder for €1.695-billion contract following challenges from Alstom and Siemens

Intermoney | The Spanish company (Hold, PO €45) announced yesterday to the National Securities Market Commission (CNMV) that Belgian operator SNCB has confirmed its bid as the best of those submitted. Although this confirmation was already known on 28 February, the award was challenged by Alstom and Siemens, arguing that CAF did not have any factories in Belgium, while Alstom has four plants and 1,900 employees in the country. After…


CAF trolleys

CAF consolidates presence in France with two new contracts in consortium with Alstom for €300 million total

Intermoney | The company will manufacture trains and trams for France after being awarded two new contracts worth a total of €300 million. In consortium with Alstom, the Basque group will supply 14 trains from the Coradia Polyvalent platform to the Burgundy region. The shared contract stems from agreements between the two companies following CAF’s purchase of Alstom’s Reichshoffen plant three years ago, after the French company was forced to…


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CAF to invest €50m in French factories over next 5 years to triple capacity in country

Renta 4 | CAF has announced its intention to invest in France. Specifically, the company will invest €50 million in its factories in France over the next five years with the aim of tripling its capacity in the country. With this investment, CAF will reinforce its presence in the French market through its two plants in Reichshoffen and Bagneres-de-Bigorre. Assessment: Positive news as it fits within the company’s organic strategy…


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CAF wins new maintenance contracts in UK and Colombia worth €400m

Intermoney: Construcción y Auxiliar de Ferrocarriles (CAF) has won new maintenance contracts in UK and Colombia worth €400 million. CAF (Buy, P.O. €42) informed the National Securities Market Commission (CNMV) on Monday that it had reached an agreement with Northern, the second largest rail operator in the UK, and Medellin Metro in Colombia for the maintenance of their fleets. In the case of the UK, it is a fleet of…