The Hungarian V-Híd Zrt. establishes a joint venture with the Czech company AZD Praha to manufacture railway safety equipment. AZD Praha is the regional market leader in railway safety equipment for rail traffic.
The V4SIL joint venture not only creates new jobs, but also ensures well-trained young workers in the industry with the help of the V-Híd Academy in cooperation with the Technical University of Budapest and the University of Óbuda.
The joint venture is set to become the first Hungarian factory to produce world-class railway safety equipment. The joint company will be responsible for the modernization of the software and hardware components of the devices according to the specifications of the Hungarian State Railways MÁV and later for their manufacture. The Czech manufacturer will also undertake a technology transfer of its state-of-the-art system to lay the foundations for equipment specialized for the Hungarian market.
AZD Praha is 100% Czech owned and employs around 2,000 people in the Czech Republic and Slovakia.