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Titagarh Wagons concludes acquisition of Railway Rolling Stock business of Firema Transporti

10 Jul 2015 Evaluate

Titagarh Wagons has successfully closed the acquisition of the business of Firema Transporti S.p.a. (under administration extraordinary) through a sales and purchase agreement signed with the company represented by extraordinary commissioner. The business has been acquired through its step down Italian subsidiary, Titagarh Firema Adler S.p.a.. (TFA) registered in Milano. Titagarh had earlier announced the bid submitted for acquisition of a Railway Rolling Stock manufacturing company based in France.

The acquisition of the business has been done in partnership with a leading Italian group, Adler Plastics Spa which will hold 10% equity stake in the Italian Company and Mr Paolo Scudieri will be a director in TFA.

Firema has been an established designer and manufacturer of Metro coaches and semi/high speed trains, propulsion systems for trains such as traction motors, converters etc in Italy. The acquired business also has the designs and capabilities for manufacture of Shunting Locomotives and services for overhauling, repairing and maintenance of Rolling stock for Railways.

Titagarh Wagons is engaged in the business of manufacturing Railway Wagons, EMU (Rail Coaches), Bailey Bridges, Heavy Earth, Moving and Mining Equipment, Steel and SG iron castings of moderate to complex configuration etc.



Titagarh Railsystems Share Price

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