Titagarh Wagons buys Italy-based Firema Trasporti
The Kolkata-based private sector wagon manufacturer Titagarh Wagons Ltd (TWL) has acquired Italian coach manufacturing company Firema Trasporti for 25 million Euros. This purchase will help out TWL to venture into the metro coach and high-speed train manufacturing business.
Earlier in 2010, TWL had acquired France based Arbel Fauvet Rail now (Titagarh Wagons AFR) and now Firema Transporti’s take over will avail its state-of-the-art technology to venture out into global market in wagon manufacturing sector.
This acquisition will greatly complement Titagarh’s growth strategy and will add significant value to its conventional EMUs manufacturing business for the Indian Railways.
Availability of Firema state-of-the-art technology will now open the world market for the group.
- TWL has acquired Firema Trasporti through a special purpose vehicle (SPV) with its Italian partner Adler Plastics.
- In this deal TWL holds 90 percent stake and balance 10 percent by Adler Plastics SpA.
- Its partner will provide modern interiors for the trains and will also help in providing necessary local support and coordinate relationship.
About Titagarh Wagons
Incorporated in 1997-98, Titagarh Wagons Limited is one of the leading private sector wagon manufacturers in India.
It provides Railway Wagons & EMUs (Coaches) to India Railways and is also in business of Heavy Earth Moving and Mining Equipment, Bailey Bridges, Steel and SG iron castings of moderate to complex configuration etc.
It also manufactures certain products for the Indian defence establishment and is registered with the Government of India, Ministry of Defence to manufacture Bailey bridges and other related accessories in India.