Texmaco Rail & Engineering Ltd

Texmaco Rail Engineering Ltd is one of Indias leading freight car manufacturers and diversified engineering company. The company is the largest supplier of wagons to the Indian Railways in India with strong inhouse capabilities for the design and manufacture of special purpose wagons for core sectors such as cement, coal, alumina, steel, container freight cars, oil, chemicals, fertilizers, thermal power projects and defence sector among others. They also manufacture sugar mill machineries, industrial boilers, cryogenic and pressure vessels, chemical plant equipment and agromachinery such as power tillers. The companys major operating divisions are the heavy engineering division consisting of wagon, hydromechanical equipment and process equipment manufacturing facilities and the steel foundry division. They have five manufacturing facilities in the outskirts of Kolkata, in Agarpara, Belgharia, Sodepur and Panihati. They have their marketing offices in Mumbai, Chennai and Delhi apart from marketing their products through an established network of agents. Their major customers include the Indian Railways, National Hydroelectric Power Corporation Ltd, National Thermal Power Corporation Ltd, Mitsubishi Heavy Industries, Jaiprakash Industries among others.Texmaco Rail Engineering Ltd was incorporated on June 25, 1998 as a private limited company with the name Texmaco Machines Pvt Ltd. In March 3, 2010, the company was converted into a public limited company and the name was changed to Texmaco Machines Ltd. In April 23, 2010, the name of the company was changed from Texmaco Machines Ltd to Texmaco Rail Engineering Ltd. In September 2010, as per the scheme of arrangement, the Heavy Engineering and Steel Foundry Divisions of Texmaco Ltd was demerged and transferred to the company with effect from the appointed date, April 1, 2010. In November 2010, the company joined hands with Bombardier Transportation India Ltd, a 100% subsidiary of global rail equipment major Bombardier Inc to form a consortium and submit a joint bid to the Ministry of Railways for the manufacture of electric locomotives. In December 2010, the company signed a joint venture agreement with Australias UGL Ltd, an engineering maintenance and facilities management company. As part of this arrangement, the company and UGL together will establish a manufacturing facility based at the companys Belgharia Kolkata site in India.The equity shares of the company were listed on the Bombay Stock Exchange and National Stock Exchange with effect from March 03, 2011.The company is currently executing one of the largest orders for the supply of hydro mechanical equipments in India for a 2,000 MW hydro power project of the National Hydroelectric Power Corporation in Subansiri, Arunachal Pradesh. The company intends to expand their manufacturing facilities in the heavy engineering and steel foundry divisions. They propose to invest in manufacturing facilities for new design wagons, EMUs, metro coaches and locomotive components. Also, they intend to expand the capacity of their steel foundry to cater to the growing requirements of customers in countries such as North America and Australia and also to meet the increasing demand from the domestic market.