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July 14, 2010

Titagarh Wagons acquires Arbel Fauvet

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TITAGARH Wagons, India, has confirmed that it has purchased financially-troubled private French freight wagon manufacturer, IGF Industries-Arbel Fauvet Rail (AFR) in a Euros 15 million deal, Euros 2 million of which is for the company's assets.

The deal will provide Titagarh with an additional production capacity of up to 5000 wagons per year and is the company's first overseas purchase. Titagarh says that it hopes the deal will initiate an expansion into European and global markets.
 
Based in Douai, northern France, AFR designs and builds tank wagons, containers, bogies and wagons.

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