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Texmaco Rail & Engineering inks joint venture agreement with Australia's UGL Print E-mail
Written by Sanjay   
Thursday, 23 December 2010
Kolkata: Texmaco Rail & Engineering Limited, one of India's leading freight car manufacturers and diversified engineering company, has signed a joint venture agreement with Australia's UGL Limited, an engineering maintenance and facilities management company. As part of this arrangement, Texmaco and UGL together will establish a manufacturing facility based at Texmaco’s Belgharia Kolkata site in India.

The scope of the JV will cover the design , manufacture and supply of locomotive bogies frames and platforms, wagons and wagon components for the Australian and Indian domestic and export markets.

In addition to this, both parties intend on exploring related rolling stock, maintenance and refurbishing opportunities.

"Texmaco is committed to building a sustainable business relationship with UGL given the company's established expertise and service offerings. It is clear that there is a strong alignment of vision, culture and values. We look forward to a long and prosperous relationship between our organisations," said Saroj Poddar, Chairman of Texmaco.

"The joint venture with Texmaco marks a significant development for UGL's domestic and international rail freight customers. Our presence in India continues to grow  and Texmaco is an outstanding partner for this long term commitment. By drawing on our combined strengths, UGL will be ideally positioned to expand our suite of high quality, cost effective and reliable rail freight manufacturing solutions into a number of expanding markets and customers," said UGL's Managing Director and CEO, Richard Leupen.

"UGL’s leading position in the Australian rail freight engineering market is supported by continuing strength in the resources sector and an elevated level of rail tendering opportunities," said Mr Leupen.

Texmaco is India's largest wagon manufacturer and UGL Rail is Australia's largest complete rail solutions provider. As large and established organisations with similar corporate goals, both companies are well positioned to take advantage of these synergies , especially when it comes to committed delivery performance and quality.

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