TMH International and Magyar Vagon Zrt, a Hungarian investment company, established two Hungarian JVs with equal stakes, under their cooperation agreement on Hungarian railway industry sector.
TMH Hungary Invest LLC and Transmashholding Hungary Ltd. (referred to as TMH Hungary) are the JVs which will be involved in the Hungarian railway domain. TMH Hungary has been established to serve both the Hungarian and international railway markets, ultimately creating an international rolling stock production and renovation centre in Hungary on the basis of Dunakeszi Járműjavító, (DJJ).
As the first step of this site upgrade programme, TMH Hungary will be involved in the production and supply of railway passenger coaches for the Egyptian National Railways (ENR), on the DJJ site. This follows the significant 2018 contract award by ENR to TMH for the supply of 1,300 passenger coaches, the first batches of which will be manufactured at TVZ, in Russia.
Recently, the Hungarian government has announced that TMH Hungary Invest was selected to
enter into exclusive negotiations for the acquisition of Dunakeszi Járműjavító Ltd. (DJJ) and its related premises, for the production of railway equipment.
TMH Hungary Invest intends to implement a long-term upgrade programme to the site of DJJ after the completion of the acquisition, building on the existing operation.
DJJ has over 100 years of activity in the railway industry. It currently employs approximately 500 people on rolling stock renovation projects, mainly for the national Hungarian railway operator MAV.