Tatravagónka keeps growing

Poprad-based Tatravagónka (Alexej Beljajev, Michal Lazar and Budamar), Europe’s largest maker of freight wagons, plans to top €500m in sales this year and its net profit should surpass €60m. Last year, it doubled net profit to €29.4m, and its sales rose 14% to €419m. It acquired Croatian wagon maker TŽV Gredelj last year and is buying the production plant of SES Tlmače with 150 workers. It benefits from rail freight transport in the EU being on the rise at the expense of less environmentally friendly road transport. Its plants in Slovakia, Germany, Poland, and Serbia have full order books for years to come. Old freight wagons do not meet new EU norms, and in three years, some 200-300,000 wagons will have to be scrapped. This will push demand for new wagons. The group employs 6,000.

(dennikN.sk)