April 1, 2008 / 2:34 PM / in 10 years

Finmeccanica, Bombardier ink high-speed train deal

ROME (Reuters) - Italian defense group Finmeccanica and Canada’s Bombardier have agreed to jointly develop a high-speed train to expand in the fast-growing sector, the companies said on Tuesday.

The new train will be capable of traveling at more than 300 kilometers per hour, the companies said, promising better efficiency, safety and seating capacity over existing models.

The high-speed train sector is expected to grow by 50 percent over the next seven years, with demand centered around western European countries such as Italy.

Reporting by Deepa Babington; Editing by David Holmes

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