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Last Updated : Aug 14, 2018 08:38 PM IST | Source: PTI

Texmaco, Wabtec Joint venture to produce value added products for railways

While Wabtec would hold 60 percent in the JV, Texmaco would control the remaining 40 percent in Wabtec Texmaco Rail Private Ltd.

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The JV between Texmaco Ltd and US based Wabtec Corporation would manufacture specialised and value added products for Indian Railways at the Adventz Group company's Belgharia facility near the city.

While Wabtec would hold 60 percent in the JV, Texmaco would control the remaining 40 percent in Wabtec Texmaco Rail Private Ltd. Chairman of Texmaco Saroj Poddar said that the company, which was primarily engaged in manufacture of wagons for Indian Railways (IR), was now gradually shifting its focus on the non-wagon business.

"Our 50 percent of revenue is generated from IR and the balance from the private sector. We also manufacture wagons for the private sector, where the revenue from non-wagon portion was higher," Poddar told reporters here.

The non-wagon business of Texmaco comprises EPC (signalling system), foundry and hydro-mechanicals, he said.

Poddar said the company also supplies components to global companies like GE and Alstom, adding that active discussions were on with quite a few other overseas firms to diversify the product range.

President and CEO of Wabtec Ray Betler said its merger with GE Transportation would give greater access to the product range across the globe. Poddar added that Texmaco is expecting revenue of Rs 2,000 crore in the 2018-19 fiscal.
First Published on Aug 14, 2018 08:35 pm
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