The Hindu Business Line : Titagarh Wagons acquires 50% stake in brake systems unit

Mr Umesh Chowdhary, Vice-Chairman and MD of Titagarh Wagons, said that a total of Rs 7.5 crore would be invested to have the stake, clear certain liabilities and fresh infusion. The unit – Greysham & Co – would be become a joint venture between the existing owners and Titagarh Wagons.

Greysham & Co (a partnership firm based owned by Mr Mohan Singh and his son Mr Subodh Singh) is one of the only six companies registered with the RDSO, engaged in manufacture of air brake equipment and slack adjuster, required for manufacture of wagons and other rolling stock.

Greysham has the largest production capacity in India for these products as assessed by RDSO.

Funds for turnaround

It had not been in good financial health and was not working to its capacity. Fresh infusion of funds is needed for a turnaround.

Mr Chowdhary said: “This move will help us to not only to save cost but also ensure timely availability of these extremely critical components that have created a bottleneck in achieving our wagon production targets over the last few months.

“We also expect that with the overall increase in wagon production in the industry, it is essential for us to have some form of control on the supply chain of critical components”.

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