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Francis Niss

Editorial

Dear Reader,

InnoTrans in Berlin is an event of utmost importance for Liebherr. As in the past, we are participat-
ing with enthusiasm this year to present the products and the technologies we have developed
for the rail industry.

The industry is currently facing a downturn. Indeed, the global economic and financial conditions
restrain the implementation of new train projects and the replacement of rolling stock. Even in
China, the world’s most important market for the rail industry, several new programs have sud-
denly been frozen.

Nevertheless, we continue to experience sustainable growth thanks to our long-term develop-
ment strategy.

We have decided to concentrate our engineering skills at our main site in Korneuburg (Austria)
in order to consolidate efficiency. We have launched a promising process for product standard-
ization as well as for the reduction of lead-time and development cost. In Korneuburg, we are
establishing engineering and production expertise for highly efficient hydraulic systems derived
from the technologies we developed for the aerospace industry.

Of course, we continue to invest in environmentally friendly technologies such as air cycle and
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air conditioning as well as in other solutions for the reduction of noise emissions, on-board

weight and energy consumption.

A modern and competitive production center in Bulgaria and a joint venture in China complement
the Korneuburg site. Our customer service activities show substantial growth thanks to dynamic
commercial action and our global presence.

Thus, Liebherr is well prepared to meet the future challenges of the rail industry, which still shows
considerable growth potential in the medium and long term.

We hope you enjoy reading this new edition of our exhibition news and have a successful
InnoTrans 2012.

Best regards,


Francis Niss
President, Liebherr-Aerospace & Transportation SAS

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