Swarco and Russian bank sign MOU

Russian banking and financial services company Sberbank and Austrian road construction and traffic management company Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’. The signing ceremony was held during the St Petersburg International Economic Forum. “The bank intends to actively develop the cooperation with the company in orde
June 20, 2016 Read time: 1 min
Russian banking and financial services company Sberbank and Austrian road construction and traffic management company 129 Swarco have signed a Memorandum of Understanding aimed at ‘participation in joint initiatives and the cultivation of mutually profitable cooperation between the two parties as well as their subsidiary structures and groups’.

The signing ceremony was held during the St Petersburg International Economic Forum.

“The bank intends to actively develop the cooperation with the company in order to modernise the transport infrastructure management system in the Russian regions, in particular such systems as Smart City. The company considers the possibility to organize an industrial production of the management systems and the correspondent software on the Russian territory”, Sberbank deputy chairman Svetlana Sagaydak said.

He said the bank is also ready to consider supporting projects of concern to Swarovski, which includes Swarco, including funding the supply of equipment and production development in Russia.
Urban Traffic Control

For more information on companies in this article

Related Content

  • Deadlines approach for Europe’s automatic crash alert system
    September 15, 2016
    The EU-co-funded I_ HeERO (Infrastructure_ Harmonised eCall European Pilot) project is working to ensure the readiness of national networks of call centres - known as public safety answering posts (PSAPs) - to deal with automated crash alerts arriving via the continent-wide 112 emergency phone number. Following on from its HeERO and HeERO2 pre-deployment predecessors, which enjoyed €16m (US$17.76m) in EU funding, the new initiative runs from 1 January 2015 to 31 December 2017. It has €30.9 million (US$34.
    Read More
  • FiveAI starts AV commuter trials in London
    October 28, 2019
    A consortium led by FiveAI called StreetWise is carrying out commuter research trials for autonomous vehicles (AVs) on public roads in London. FiveAI says the trials will aim to gather insights into AV services, which it says could offer a greener alternative to urban commuter cars. The software company is working with insurance group Direct Line and safety organisation Transport Research Laboratory (TRL) to carry out the trials in the boroughs of Croydon and Bromley. As part of the project, FiveAI has
    Read More
  • Swarco completes Lacroix traffic tech division acquisition
    January 21, 2025
    Austrian company gains bigger footprint in France and Spain through buy
    Read More
  • Cycling and public transport lobby join forces
    September 15, 2015
    The first memorandum of understanding between the International Association of Public Transport (UITP) and the European Cyclists’ Federation (ECF) will see the two organisations work more closely on policy initiatives in order to strengthen the voice of sustainable urban transport. They will work to achieve more sustainable and active mobility in Europe and support each other’s missions to increase the number of cycling trips to 15 per cent and double the modal share of public transport by 2025, which w
    Read More

Highlighted Content