Titagarh Wagons Ltd. (TWL) bid for acquisition of a European railway rolling stock manufacturing company has been accepted by the competent authorities, the company said in a regulatory filing.
Enquiries revealed that the target company is based in West Europe and is engaged in making locomotives and passenger coaches, with over 200 persons on its rolls. TWL, however, declined to divulge anything further citing confidentiality clauses.
The company said that this was part of its efforts to increase presence in the international markets. TWL had acquired in July 2010, a bankrupt wagon firm in France and had turned it around, the company said.
TWL is among the major private sector wagon manufacturers in India. It is primarily engaged in manufacturing railway wagons & EMUs (coaches), bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration etc.
As an ‘Industry Partner’ to the Defence Research and Development Organisation, Ministry of Defence (DRDO), the company also manufactures certain products for the Indian defence establishment, such as special wagons, shelters and other engineering equipments.
It also has a tea estate in Mirik, Darjeeling.
