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Titagarh Wagons Ltd's and FreightCar America, Inc.'s Joint Venture Company to be Wound Up


Friday, 22 Feb 2013 07:30pm EST 

Titagarh Wagons Ltd and FreightCar America, Inc. announced that they have agreed to wind up and dissolve their Indian joint venture company. The joint venture company, Titagarh FreightCar Private Limited, was incorporated in India pursuant to a 2008 Joint Venture Agreement between the parties with the objective of manufacturing and selling aluminum coal-carrying rail wagons in India. TWL and FCA said that soon after its incorporation, the joint venture company had begun the process of obtaining approval from the Indian Railways Research Designs and Standards Organisation (RDSO) for aluminum wagon designs adapted for use on the Indian rail system. However, they said that over time it became clear that approval from the RDSO would not be obtained in an acceptable timeframe. The joint venture company formally notified the RDSO in June 2012 that it would not further pursue its request for design approval. 

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