Tatravagónka expands in India
Tatravagónka Poprad, European leader in the production of freight rail wagons controlled by Michal Lazar, Alexej Beljajev and Budamar Logistics, is acquiring a 55% stake in Indian firm Commercial Engineers & Body Builders Co. It is buying it jointly with Indian wagon maker Jupiter Wagons, in which it owns a 25% stake. The acquisition target is listed on Indian stock exchange and makes wagons and military equipment. Due to financial woes, it was forced to stop making wagons recently. In the 2017-18 fiscal year, it lost €4.5m on €11.7m sales.
Tatravagónka has production plants in Slovakia, Serbia, Poland, Germany, and India.