Chennai, March 21 (SocialNews.XYZ) Railway wagon and passenger coach major Jupiter Wagons Limited (JWL) announced the acquisition of Bonatrans India Private Limited (BIPL) for a sum of Rs 271 crore on Thursday.
This strategic move marks a significant milestone for JWL, as it became the first rolling stock manufacturing company to have its own wheel plant.
Situated at Chhatrapati Sambhajinagar ( formerly Aurangabad) in Maharashtra, BIPL rolls out wheelsets.
With a production capacity of 20,000 wheels and 10,000 axles annually, the acquisition reduces JWL’s dependency on imported wheels.
BIPL's clients include JWL, BEML Ltd, Alstom Rail Transportation India Pvt Ltd, Plasser India Pvt Ltd, and Titagarh Rail Systems Ltd.
According to Vivek Lohia, Managing Director at JWL, the acquisition of BIPL enables the company to become a comprehensive rolling stock manufacturer.
As part of the 'Make in India' initiative, JWL is poised to invest an additional Rs 1,000 crore over the next two years.
These investments will enhance the production capacity and drive the plant towards full backward integration. The ultimate goal is to cater to the burgeoning needs of the Indian railway sector, with aspirations to transform it into an export hub, leveraging JWL’s existing esteemed partners.
Following the acquisition, Bonatrans Group, an existing shareholder and leading wheel manufacturer in Europe, will continue its vital role as a minority shareholder, ensuring continuity and synergy within the newly integrated structure.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz