PCM acquires German railway company for 36 million euro

KOLKATA: North Bengal based PCM group of industries has acquired 118 year-old German railway company RAIL.ONE GmbH to set foot in European and US markets.

"We have acquired the company at a cost of 36 million euro from the PE funds," PCM Group Chairman Kamal Kumar Mittal told PTI over phone.

RAIL.ONE is the pioneer in concrete railroad sleepers and systems provider for railway track, high speed lines, urban transit and heavy duty railroads.

It has facilities and state of the art plants spread over seven countries namely Germany, Romania, Saudi Arabia, Spain, South Korea, Turkey and Hungary with the workforce of 600 people, Mittal said.