Stadler joins the Rail Working Group

Stadler has now become a member of the Rail Working Group (RWG). Founded by Ernst Stadler in Zurich in 1942, Stadler is now a leading global provider of mobility solutions in rail vehicle construction, service and signalling, headquartered in Bussnang, Switzerland. With six production and component plants, five engineering locations and over 80 service locations, the company supplies rolling stock to customers all over the world.

“We are delighted to welcome Stadler into our unique group of rail stakeholders at a critical time when the Luxembourg Rail Protocol is about to enter into force,” said RWG Chairman Howard Rosen. “The company has an unparalleled reputation for innovation and excellence in train manufacturing using state-of-the-art technologies, and we look forward to working with them to make the most of the Luxembourg Protocol.”

“However good our products are, our customers often need finance at sustainable rates before we can make the sale,” said Dr Ansgar Brockmeyer, Executive Vice President Sales & Marketing and Deputy CEO at Stadler. “We recognise that the Luxembourg Rail Protocol, entering into force in the next few days, will make it easier and cheaper for the private sector to provide finance, and we are pleased to support the Rail Working Group in its efforts to motivate governments to adopt the Protocol at the earliest opportunity. The Protocol is good news for us as a leading manufacturer of rolling stock, and good news for the rail industry.”

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NOTES FOR EDITORS

The Luxembourg Rail Protocol to the Cape Town Convention on International Interests in Mobile Equipment is a new global treaty under the auspices of UNIDROIT, the International Institute for the Unification of Private Law. The Protocol will make it much easier and cheaper for the private sector to finance all types of railway rolling stock. It sets up a new system for recognition, priorities and enforcement of creditor and lessor rights, which will be registered in an international registry based in Luxembourg, accessible to everyone over the internet 24/7 and introduces, for the first time a new global unique permanent identification system for rolling stock. The Protocol will enter into force in contracting states on 8^th March 2024.

The European Union (in respect of its competences). Luxembourg, Sweden, Spain and Gabon have ratified the Protocol and South Africa and Paraguay are about to ratify. France, Germany, Switzerland, Mozambique, Italy, and the UK have already signed the Protocol and many other states, including Kenya, China, Malta, Eswatini, Namibia, Senegal, Ethiopia, Finland, Ukraine and Mauritius, are looking at adoption of the Protocol. The Protocol is endorsed by many international rail organisations (including OTIF, CIT, UIC, UIP, ERFA, ALLRAIL, UITP, CER and Eurofima) and actively supported by the African Union, the UN Economic Commission for Africa and the UN Economic Commission for Europe.

The Rail Working Group is a Swiss-based not-for-profit association focused on the adoption and implementation of the Luxembourg Rail Protocol. It has about 80 direct members and hundreds of additional rail stakeholders represented indirectly by various industry organisations that belong to, and support, the objectives of the RWG.

For more on the Luxembourg Rail Protocol and the Rail Working Group see www.railworkinggroup.org.   

Further information from the Rail Working Group:

Tel.               +41 41 760 28 88

Email:           info@railworkinggroup.org

Twitter:         https://twitter.com/RailWorkingGrp

LinkedIn:      https://www.linkedin.com/company/rail-working-groupp/?viewAsMember=true

EU Contact:  Matteo Albania

ENDS

Uría Menéndez joins the RWG

Uría Menéndez is a leading law firm in the Ibero-American market with 12 offices located in the most important financial centres throughout Europe and the Americas. Founded in 1946, Uría Menéndez has over 600 lawyers who advise on Spanish, Portuguese and EU law in business-related matters, covering all industry sectors. 

Transport, logistics and mobility form the backbone of the current economic, social and business environment. The result is a dynamic and complex regulatory framework that requires an all-encompassing approach to legal advice and transactional support. We are the only major Iberian firm with a long established practice in this area, advising on the most relevant deals, day-to-day business and regulatory matters and litigation cases within the market.

Our multidisciplinary and versatile team knows how to design and implement regulatory and financing structures (particularly, those linked with the Cape Town Convention), execute corporate and infrastructure transactions, and manage risks in the rail sector. We support the main players: banks, funds, leasing entities, rolling stock manufacturers and rail companies with deep understanding of the legal framework and access to regulators and key local authorities.

The Luxembourg Rail Protocol set to enter into force on March 8, 2024

The Luxembourg Rail Protocol to the Cape Town Convention will enter into force in contracting states (Luxembourg, Sweden, Spain and Gabon, and possibly also South Africa and Paraguay), on March 8, 2024.

This date was announced on November 15 by the Ratification Task Force of the Preparatory Commission, the intergovernmental group mandated to pilot through the implementation of the Luxembourg Rail Protocol in collaboration with UNIDROIT and OTIF. The Rail Working Group, RWG, also participates in this group, and is actively involved in managing plans for the operation of the new international registry.

“We are very pleased, after many years of hard work with our friends and partners across the rail industry, to see a firm date set for the entry into force of the Rail Protocol,” said RWG Chairman Howard Rosen. “This excellent news is not, however, an invitation for us to rest. Indeed, technical work remains regarding the operation of the international registry. Equally significantly, considerable educational and advocacy work lies ahead for our team, as we encourage more and more nations to adopt this landmark treaty.”

The Rail Protocol has the full support of the African Union, the UN Economic Commission for Africa, and other multilateral institutions around the world, as well as many leading financial institutions, academics, law firms and rolling stock lessors.

Several African and European states are poised to adopt the Protocol soon, which will be bring material benefits to governments, creditors, lessors and operators across the world.