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Titagarh Wagons forms JV with French firm Matiere

Business Standard:  May 30, 2016

Titagarh Wagons Ltd has formed a joint venture with France’s Matiere SAS for manufacturing metallic and modular bridges in India. “The Board of Directors of the Company at its meeting held on May 26, 2016 has approved execution of a joint venture agreement (JVA) with Matiere SAS, France pursuant where to a joint venture company between the joint venture partners would be incorporated in India to pursue manufacture of metallic and modular bridges in India,” said Titagarh Wagons in a BSE filing on May 27, 2016. The JV will also market its products in the neighbouring territories.

Titagarh Wagons Limited already has an existing business of manufacture and sale of bailey bridges - portable prefabricated truss-bridges, initially designed for use by military engineering units to bridge gaps up to 200 feet in a single span. Being modular in design, bailey bridges can be supplied in completely knocked down (CKD) or semi-knocked down (SKD) conditions, thereby facilitating easy logistics, mobility and assembly with minimal aid from heavy equipment. Titagarh Wagons Limited is the only company in the private sector with necessary license for manufacturing bailey bridges in India.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.