According to a joint press release issued on 9 July, Andreas Meyer, Director General of Swiss Federal Railways and Dr. Rüdiger Grube, President of the Board of Deutsche Bahn AG and DB Mobility Logistics AG, signed a memorandum of understanding for the development of international passenger transport between Switzerland and Germany. Building and improving infrastructure, purchasing new rolling stock and cutting journey time should help make travel by train more attractive between the two countries. The two rail companies intend to form a new joint subsidiary for more effective marketing of the new services offered.