CRRC on track to take over Czech firm

Group shifts focus to overseas markets

China Railway Rolling Stock Corp, the country's largest railway vehicle and equipment manufacturer, is in takeover talks with Czech Republic's Skoda Transportation AS, a move to further increase its market share in Europe's railway markets.

CRRC Zhuzhou Electric Locomotive Co, one of CRRC's manufacturers mainly producing electric locomotives, is in charge of the talks to buy a 100 percent stake in Skoda Transportation, the Hunan-based company said on Sunday.