Trimble Navigation Ltd. (TRMB) stated that it signed a definitive agreement with the China Railway Eryuan Engineering Group Co. Ltd. or CREEC to form a joint venture in China. The joint venture will be based in Chengdu, China and is expected to begin operations after regulatory approval from the Chinese government, the company said.
The company noted that the joint venture, 50% owned by Trimble and 50% owned by CREEC, will leverage Trimble's commercial positioning, communications and software technologies and CREEC's expertise in rail design and construction to develop and provide digital railway solutions that address the design, construction and maintenance for the Chinese railway industry.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.