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Canadian aerospace and transportation company Bombardier (BDRBF) and German industrial manufacturing firm Siemens (SIEGY) are in the final stages of talks to merge their rail operations, Reuters reports.

The combination would allow the two companies to step up their battle against Chinese railroad company CRRC.

The deal would form two separate joint ventures for the companies' signaling and rolling-stock divisions, and could be announced as soon as August.

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Bombardier would take a majority stake in the rolling stock operations, while Siemens will take the lead in a joint venture in signaling technology.

Siemens' supervisory board will discuss the combination at a meeting on August 2, and Bombardier's board is expected to look at it next week.

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