Softronic Ltd. has signed a letter of intent to form a joint venture (JV) with L.A.C. Holding Ltd. to build a locomotive factory in Hungary. Under the terms of the agreement, Softronic will hold a 51% stake, while the remaining 49% stake will be held by L.A.C. in the JV. Softronic and L.A.C. will build the factory by the end of next year, and will begin locomotive production in 2015.