Amtek Auto and American Railcar Industries plan railcar JV
Amtek Auto and American Railcar Industries plan 50:50 joint venture for manufacturing railcars.
By INDIATIMES NEWS NETWORK |
MUMBAI: Amtek Auto and American Railcar Industries plan 50:50 joint venture for manufacturing railcars.
American Railcar Industries is a leading designer, manufacturer and marketer of a variety or railcars in North America. It also repairs and refurbishes railcar, provides fleet management services and designs, manufacturers and markets certain rail cars and other industrial components used in this field.
This agreement is part of Amtek Auto���s expansion strategy by setting up four transportation systems division and this JV will be part of that new division.
The transportation division, which includes railways, aerospace and surface transport, is expected to report sales of Rs 1,500 crore in the next 4-5 years.
Amtek is currently investigating other opportunities and acquisition for the transportation division both in US and European markets.
In view of the country wide railway expansions for both intercity and intracity metro railway systems, Amtek has planned an outlay of over Rs 500 crore in its railways business, which would include this JV with American Railcar.
Besides the railcar JV, Amtek is also planning to set up forgings, casting and machining facilities by itself to manufacture components for the railcar and other railway application.
At 10:08 am, Amtek Auto shares were up 1.50 per cent at Rs 310.50 on BSE.
American Railcar Industries is a leading designer, manufacturer and marketer of a variety or railcars in North America. It also repairs and refurbishes railcar, provides fleet management services and designs, manufacturers and markets certain rail cars and other industrial components used in this field.
This agreement is part of Amtek Auto���s expansion strategy by setting up four transportation systems division and this JV will be part of that new division.
The transportation division, which includes railways, aerospace and surface transport, is expected to report sales of Rs 1,500 crore in the next 4-5 years.
Amtek is currently investigating other opportunities and acquisition for the transportation division both in US and European markets.
In view of the country wide railway expansions for both intercity and intracity metro railway systems, Amtek has planned an outlay of over Rs 500 crore in its railways business, which would include this JV with American Railcar.
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Besides the railcar JV, Amtek is also planning to set up forgings, casting and machining facilities by itself to manufacture components for the railcar and other railway application.
At 10:08 am, Amtek Auto shares were up 1.50 per cent at Rs 310.50 on BSE.
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