Construcciones y Auxiliar de Ferrocarriles

	Construcciones y Auxiliar de Ferrocarriles (CAF), S.A.
Type	Public
Founded	1917 (Compañía Auxiliar de Ferrocarriles)
Headquarters	Beasain, Spain
Key people	Jose María Baztarrica Garijo, Chief Executive Officer and Chairman
Industry	Manufacturing
Products	Design, manufacture, maintenance and supply of equipment and components for railway systems
Revenue	€ 680.798 million (2005)
Employees	2,000
Website	www.caf.net

Construcciones y Auxiliar de Ferrocarriles (CAF) is a rail equipment manufacturer based in Beasain in the Basque Country, Spain. Equipment manufactured by CAF includes railroad cars and locomotives, as well as variable gauge axles that can be fitted on any existing truck or bogie.

CAF has manufactured rail cars for the MTR, Washington Metro, Port Authority Transit in Pittsburgh, Pennsylvania, and Sacramento Regional Transit. One of the latest clients is Iarnród Éireann, the state rail company of the Republic of Ireland, which have placed a large order for coaches and DVTs. CAF will also manufacture the train sets for the high speed rail line between Istanbul and Ankara, which is expected to open in 2008. In February 2004, RENFE placed orders for 45 CAF/Alstom 25 kV AC/ 3kV DC, variable gauge EMUs for 250 km/h regional services, between October 2006 and May 2009 (€580 million). As of August 24, 2005, CAF also obtained a 30 year concession to supply rolling stock, build and operate the Ferrocaril Suburbano de le Zona Metropolitana de México in the Mexican Federal District.

Financial information

The current share capital is € 10,318,505.75, in 3,428,075 shares, of € 3.01 nominal value each, represented via book-entry security, totally subscribed and paid up, and 100% free float in the Stock Market. CAF shares are traded in the Madrid, Barcelona, Bilbao and Valencia markets, in the "Mercado Continuo" (electronic). The share capital of the Company has remained unchanged for the last three fiscal years.

History

The name CAF is the acronym for Construcciones y Auxiliar de Ferrocarriles, although in the beginning it stood for Compañía Auxiliar de Ferrocarriles.

Fábrica de Hierros San Martín

In 1860 Domingo Goitia, Martín Usabiaga and José Francisco Arana established this company, whose main activity was puddling furnaces and cylinder rolling.

La Maquinista Guipuzcoana

In 1892 Francisco de Goitia (Domingo Goitia's son and heir) joined the Marquis of Urquijo to set up La Maquinista Guipuzcoana, whose main activity was the operation of machinery and the forging and construction of railway rolling stock.

Since 1898 it sets up its plan in Beasain, Gipuzkoa.

In 1905 it changed its name to Fábrica de Vagones de Beasain (FVB).

Compañía Auxiliar de Ferrocarriles (CAF)

Compañía Auxiliar de Ferrocarriles (CAF) is founded in 1917, specializing in freight car production and with a total of 1,600 employees.

In 1940 the Irun factory is set up, following the expansion of activity after the Spanish Civil War (CAF took part in reconstructing the Spanish rail fleet).

In 1954 CAF took control over Material Móvil y Construcciones (MMC) from Zaragoza, a company with extensive experience in manufacturing long-distance and subway trains.

Since 1958 the company modernized, extended the plant in Beasain and expanded its activity to all kinds of rolling stock. In line with this, CAF created in 1969 its Research and Development Unit, which increased the company's competitiveness and intensified the focus on self-developed technology.