HAMBURG, Germany -- CRRC, the Chinese state company that is the world's largest train maker, is set to gain a key foothold in Europe by acquiring its first locomotive factory on the continent through a deal with German manufacturer Vossloh.
The deal comes as CRRC is under pressure in the U.S. where it has opened two factories and won contracts to supply train cars for transit systems in several major American cities. Both houses of Congress have passed measures that would bar the use of federal funds to buy Chinese rail cars and buses out of concern they could be utilized for Chinese espionage or sabotage. It is not yet clear if the final version of the bill to which the ban has been attached will ultimately include it.
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