Titagarh Wagons Limited (TWL) was came into existence in the year of 1997, is the second largest freight wagon manufacturer in India. The leading wagon manufacturer company is responsibility to the business of manufacturing railway wagons, Bailey bridges, Heavy Earth Moving and Mining equipment, steel and SG iron castings of moderate to complex configuration etc., also has a niche fabrication business catering to civil construction and defense sectors; manufacture other products for the Indian defence establishment, such as special purpose wagons, shelters and other engineering equipments as an 'Industry Partner' to the Defence Research and Development Organization, Ministry of Defence ('DRDO'). The company operates two manufacturing facilities at Titagarh and Uttapara in West Bengal.
The above said products and services are structured along five broad business lines, Wagon Manufacture, Heavy Earth Moving & Mining Equipment, Foundry Division, Rail Coach Division and Special Projects. The company also entered into production of special purpose wagons to suit the varying needs of customers, such as the Merry-Go-Round ('MGR') wagons and Special Wagons for Defence etc. TWL, is the only private company registered with the Ministry of Defence, Government of India to manufacture Bailey bridges and other related accessories in India. The company's Wheel-on-Wheels ('WoW') wagon has specifically been designed, to enable it to carry various types of trucks, catering to the needs of the logistics industry by providing a Roll-on - Roll-off service.
TWL have a subsidiary company named as Titagarh Biotec Private Limited, incorporated on July 20, 2004. Titagarh Biotec Private Limited is primarily engaged in the business of cultivating, producing, buying and selling all kinds of agricultural and 2 forests produce and engaged in biotech activities for processing and preservation of agriculture and forest produce. The company acquired the Heavy Engineering Division of Hyderabad Industries Limited under the Business Transfer Agreement dated April 4, 2005. The purchase included a manufacturing unit in Uttarpara, West Bengal spread over an area of approximately 35 acres with a steel foundry, a fabrication cum machining facility and access to a rail siding along with some specified liabilities ('Uttarpara unit'). During the year 2006, the company has supplied 88 Bailey bridges as well as related spares. TWL have one of the highest manufacturing capacity ratings given by Ministry of Defence (CQAE), being 72 bridges per annum.
The company and JP Morgan Mauritius entered into a cooperation and funding agreement for acquisition, revival and rehabilitation of the sick Cimmco Birla Ltd (CBL) part of the S.K. Birla Group to BIFR Cimmco with the consideration of Rs 35 crore and also entered into a `compromise deed' with the unions of Cimmco. TWL entered a Joint Venture Agreement with FreightCar Inc; America entered into for a Joint Venture Company for manufacture of Aluminium Rail Cars. As of March 2008, Titagarh Wagon was entered into the capital market with its Initial Public Offering (IPO) of 23,83,768 shares.
TWL is in the process of expanding its capacities, including setting up Rs 18.7-crore EMU manufacturing unit with a capacity to produce two rakes of EMUs per month. It also plans to invest another Rs 18.84 crore to modernise and expand its two existing plants at Titagarh and Uttarpara in West Bengal, apart from setting up an axle machining and wheel-set assembly facility at a cost of Rs 12.93 crore. Titagarh Wagons Limited aspires to be a leader as a manufacturer of heavy engineering equipment and a world-class service provider for the infrastructure sector, to be known as a dependable and preferred partner for growth in line with a national perspective plan.