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25-Feb2013

Titagarh Wagons to dissolve its joint venture company 'Titagarh FreightCar'

Titagarh Wagons (TWL) and FreightCar America, Inc. (FCA) have agreed to wind up and dissolve their Indian joint venture company, Titagarh FreightCar, which was incorporated in India pursuant to a 2008 joint venture agreement between the parties with the objective of manufacturing and selling aluminum coal-carrying rail wagons in India.

Soon after the incorporation, the joint venture company had begun the process of obtaining approval from the Indian Railways- Research Designs and Standards Organization (RDSO) for aluminum wagon designs adapted for use on the Indian rail system. However, it became clear that approval from the RDSO would not be obtained in an acceptable timeframe. The joint venture company formally notified the RDSO in June 2012 that it would not further pursue its request for design approval.

Titagarh Wagons is engaged in manufacturing of railway wagons, bailey bridges, heavy earth moving and mining equipment, steel and SG iron castings of moderate to complex configuration. It also manufactures special wagons, shelters and other engineering equipment for the Indian defence establishment.


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