Poprad-based Tatravagónka joins forces with Indian Jupiter Group with annual turnover of ca. 600 mill. rupees. Tatravagónka should gradually acquire 50% share in the company. Establishment of new joint ventures is expected as well. Some sources say that the total value of the transaction should reach 1 bill. rupees (ca. EUR 14.1 mill.).
As a first step, Tatravagónka bought 13% stock in two undertakings located in Calcutta – Jupiter Wagons (production and repair of passenger and freight wagons) and Jupiter Alloys & Steel (production of casts for bogies, couplers and switches). By April 2016, the share should increase to 26% and a part of the investment should be used for modernization of a plant in Bandeli in Western Bengal and establishment of a foundry with annual production of 24,000 tons of casts for the Russian market. In the following three years, Tatravagónka’s share should reach 50%.
Both partners wish to jointly operate in the area of wagon leasing. It is also expected that a joint venture will be established near New Delhi, focusing on the production of braking systems for freight and passenger wagons and underground wagons.
source: 2.08.2015, foreign sources