Texmaco eyes rail automation
Adventz group firm Texmaco Rail and Engineering is bullish on growth prospects across business verticals as it plans to double revenues in 2018-19.
- Published 15.08.18
Calcutta: Adventz group firm Texmaco Rail and Engineering is bullish on growth prospects across business verticals as it plans to double revenues in 2018-19.
The city-based firm is diversifying its business in railway automation, modernisation and setting up of critical railway infrastructure in addition to its existing business of wagon making.
"The idea is to move from a low-tech wagon maker to a high-tech manufacturer of wagons and associated products and components. We have taken significant steps in this direction," said Texmao Rail chairman Saroj Poddar while inaugurating a manufacturing unit of its joint venture firm Wabtec Texmaco Rail at Belgharia on Tuesday.
Texmaco had formed a joint venture with US firm Wabtec Corporation to provide high-tech railway equipment.
Wabtec and GE Transportation had announced a merger in May this year after which Wabtec will have approximately $8 billion in revenues, a more diversified business mix and higher margins.
Texmaco Transtrak, a subsidiary of Texmaco Rail, has signed a memorandum of understanding with Spanish firm CAF Signalling whose products range from electronic interlocking and train protection and warning systems.
Poddar said the company is in active discussions with other global players as well with intent to add value and diversify its product range.