Adtranz was a multi-national rail transportation equipment manufacturer with facilities concentrated in Europe and the US. The company, legally known as ABB Daimler-Benz Transportation was created in 1996 as a joint venture between ABB Group and Daimler-Benz to combine their rail equipment manufacturing operations. In 1999, DaimlerChrysler (successor to Daimler-Benz) bought ABB's shares and changed the company's official name to DaimlerChrysler Rail Systems. The company was acquired by Bombardier Inc. in 2001, which merged it into its Bombardier Transportation division, which became the largest rail equipment manufacturer in the world at the time. Adtranz manufactured locomotives, high-speed, regional, metro and underground passenger trains, trams and people movers as well as freight wagons. Non rolling stock businesses included railway electrification and signalling infrastructure. History On 8 May 1995 ABB and Daimler-Benz proposed a merger of their rail industry related activities into a single autonomous 50:50 joint venture; the combined group would be the largest rail-technology company in the world. In Germany the combined company, along with Siemens would have a duopoly or near-duopoly in the market areas of electric locomotives, mainline and regional electric and diesel multiple units, trams and metros, and catenary systems. In the EU, outside Germany, the merger would have meant no significant market share increase, including Scandinavia, where ABB had a dominant market share. The proposed merger was approved by government regulators on 18 October 1995, on the condition that both companies divest themselves of any shares in Kiepe, a traction components company. The merger came into force on 1 January 1996. The company's manufacturing facilities and product lines were rationalised, including a standard form of car body; after 18 months manufacturing costs had been reduced by 30%, revenues and orders also rose from 1996 to 1997. However the company continued to lose money, $111 million in 1997. Polish manufacturer Pafawag was acquired in 1997 and the facility modernised, controlling interests in MÁV Dunakeszi, Hungary and Schindler Waggon Switzerland were also acquired by the end of 1997.In March 1998 Adtranz presented a set of new product brands for modular product platforms, with designs that can be adapted for the specific requirements of different customers: the Innovia guided transport vehicle, the Incentro low floor tram, the Itino diesel multiple unit, the Crusaris medium-high speed train (based on the GMB Class 71 flytoget trains), and the Octeon electric locomotive. A new diesel locomotive design with engine and electrical traction