DLA Piper has advised Russia's largest manufacturer of locomotives and rail equipment, Transmashholding, on its joint venture with Japanese industrial conglomerate, Hitachi, to produce traction inverters for passenger trains in Russia.

Per conditions of the agreement, the JV will use manufacturing capacities of Metrowagonmash, a subsidiary of Transmashholding, to manufacture high-performance traction inverters in Russia. Transmashholding will own 51 percent of the JV authorized capital of RUB375 million, Hitachi will own 49 percent.

The JV will have an annual production capacity of 200 traction systems. It will carry out the design as well as manufacturing, assembly, testing, sale, repair and maintenance service of the products. This will make high-performance, high-quality traction inverters available throughout the Russian market, as well as the CIS and European markets.

The transaction was led by Moscow-based Corporate partner, Steffen Kaufmann, assisted by legal director, Mukhamed Evloev.