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Wabtec Corp seeks $30 million exports with India operations
Industry News- May 21,24
The company is expected to deliver all 1,000 locomotives by 2027-28.
Wabtec Corporation, a multinational rail parts manufacturer, has set its sights on a substantial expansion of its export operations from India within the next three years, aiming for a tenfold increase.
“Our current exports from India are $3-4 million and we plan to multiply this number ten times to $30 million in the next three years,” Pascal Schweitzer, Global President of the firm’s transit business said.
Alongside Schweitzer, key executives including Sujatha Narayan, Senior Vice-President and India Regional Leader and Ajay Mani, Managing Director - Transit India were present for the inauguration. Initially focusing on transit rail components and subsystems, the new plant is poised to diversify into other Wabtec product lines in the future.
Narayan emphasised the company's commitment to further investment, with plans to infuse an additional $10 million into the facility and expand employment opportunities, with a particular emphasis on diversity hires. Notably, Wabtec has been a significant contributor to the railways sector, particularly with its contract to supply 1,000 diesel locomotives for Indian Railways.
While the company is gearing up to deliver all 1,000 locomotives by 2027-28, it is also adapting to the national transporter's shift towards electrification by focusing on rail components. The new facility, spanning 10,000 square meters, will initially manufacture a range of products, including axle-mounted disc brake systems and friction material, catering to Indian Railways and metro systems. This strategic move aligns with Wabtec's objective of enhancing localisation in its supply chain for India.
The company's consolidation of manufacturing facilities into the Rohtak facility underscores its commitment to the region, with continued investments planned for future growth opportunities.
Additionally, Wabtec recently secured a significant brake system order from Siemens India for the 9,000 HP locomotive project for Indian Railways, highlighting its continued involvement in advancing railway technology in the country. With an extensive installed base and a workforce of 3,000 employees across its Indian campuses, Wabtec remains poised for further expansion and innovation in the railway sector.
(Source: Business Standrard)
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