You are here: Home » Companies » News
Business Standard

Zuari, Texmaco brought under new identity, Adventz

BS Reporter  |  New Delhi 

The Saroj Poddar-led group of companies, which include and Texmaco, today unveiled a new group identity,

As many as 21 group entities, straddling fertiliser, heavy industry, engineering services, real estate and financial services, will now have a common brand identity.

‘‘They have been working as independent entities, with their own expansion plans. Now, they will have a common identity, and work with a common vision and purpose,’’ said Saroj Kumar Poddar, chairman, Adventz Group. ‘‘Earlier, they were all operating in separate envelopes, without a unified vision. In this orientation, these will collaborate to unleash transformation across India’s growth sectors: agriculture, industry and infrastructure.’’

The group would also like to seek opportunities and markets beyond India. Zuari Industries, which besides being a large producer of urea, is the country’s largest importer of fertilisers and agri inputs. it has , has JVs with OCP, Morocco, and ICL, Israel. In fertiliser, said Poddar, it was important to look at backward integration and to secure raw materials. The group is looking at tying up mining capacities and acquiring mines.

Texmaco in Japan JV talks
Texmaco Rail and Engineering Ltd, which makes freight cars, has JVs and collaboration with Ltd, Australia and Bombardier, Canada. Poddar said Texmaco was in talks with a Japanese consortium for an equal JV to make suburban train coaches.

The remarks sent its shares up by as much as six per cent in Mumbai trading.

"We are looking for a JV partner for both EMU (electric multiple unit) coaches and metro coaches," he told reporters, adding the deal may be finalised in three months. The new plant will be located at the existing factories and, thus, would not require huge investments, he said.

Texmaco makes 20-25 rail wagons per day and plans to invest Rs 75-100 crore in two years to ramp up capacity, Poddar said. With the proposed JV, Texmaco will be able to produce coaches for suburban trains as well.

First Published: Thu, March 24 2011. 01:06 IST