Railway Cars Maker IRS Sacks 1,200 People, Cristian Burci Named GM

Cristian Burci, the president and majority shareholder of freight railway wagons maker International Railway Systems (IRS), will also become the company’s general manager after Juergen von Schwerin's resignation following a major restructuring process that includes cutting 1,200 jobs.

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IRS decided to cut its number of employees on the railcar production segment as a consequence of the demand downturn, concentrating the corporate functions in Bucharest, the company said in a press statement Wednesday.

During von Schwerin’s tenure since September 2007, IRS, Europe’s largest manufacturer of railcars, has substantially increased its production and financial performance.

The company increased its production by 13% and produced 4,371 railcars in 2008, as compared to 3,878 in 2007.

IRS has an order backlog in excess of EUR1 billion and produces various types of railcars for the leading European rail operators and leasing companies, the company also said.

IRS Group total revenues increased from EUR310 million in 2007 to EUR380 million in 2008.

In Romania, the group owns rail manufacturing plants Astra Arad, Meva Turnu-Severin and Romvag Caracal.

International Railway Systems (IRS), headquartered in Luxemburg, is Europe’s largest freight railway wagons manufacturer and a leading producer of bogie and forged parts for the railway industry.

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