United Wagon Company
Corporation United Wagon Company is the leader in railcar building in the territory of “1520 gauge”. The railway holding is an integrated provider of services in manufacturing, transportation, operating leasing, engineering and maintenance of freight cars with advanced technical and economic features.
It was designed and developed as a green-field investment project by ICT Group. The project commenced in 2004 - 2008 with construction of the plant and R&D in producing of the prototype models of new freight cars. In the beginning of 2012 Tikhvin Freight Car Building Plant was launched.
In 2015 UWC goes public with 12.22% of its shares on the Moscow Exchange, an important turning point which serves as proofs of compliance with high standards of corporate governance, placing a quality mark on its product, innovative for the Russian market.
ICT sold a nearly 7% of its stake and over 50 investors took part in IPO. Foreign investors made up 38.3% of the demand with 81.6% of demand coming from institutional investors.
As a result of the deals on the Moscow Exchange between 2015 and 2018 and other transactions, ICTH’s share in UWC decreased to 9.3% (as per August 2018).
In December 2018 ICT’s stake in the leading Russian railcar maker was sold to the subsidiary of the state Roctec corporation.