Economic slowdown to impact Titagarh Wagon’s revenue targetNovember 20th, 2008 - 3:22 pm ICT by IANS
Kolkata, Nov 20 (IANS) City-based wagon maker Titagarh Wagons Thursday said the economic downturn could derail its Rs.10-billion revenue target this fiscal.”In the first half of the year, we achieved 47 percent of the revenue target. But definitely there will be some impact of the economic slowdown in the second half,” company chairman J.P. Chowdhary conceded to reporters on the sidelines of a seminar organised by the Confederation of Indian Industry (CII).
But Titagarh Wagons will not move away from its planned Rs.1-billion capital expenditure in 2008-09. “We are sticking to the plan,” Chowdhary said, adding that his company had posted revenues of Rs.6 billion last year.
The investment is aimed at modernising its two plants in West Bengal and introducing new technology.
The company is also reviving a sick company, Cimmco Birla, jointly with the SK Birla group, engaged in diversified fields such as textiles and cement.
Cimmco Birla, which manufactures railway wagons, cement and hydraulic equipment, was closed for the last eight years, but will be ready for production in another two-three months, Chowdhary said.
- Titagarh Wagons in talks with Japanese bridge maker - Aug 27, 2010
- TWL looking for land for shipping unit - Jul 28, 2011
- West Bengal's industry welcomes railway budget - Feb 25, 2011
- Calcutta Business School plans course for executives - May 12, 2010
- Competition panel levies Rs.6,000 crore penalty on cement firms - Jun 21, 2012
- Jay Shree Tea fetches higher returns - Jul 26, 2012
- West Bengal wagon makers rejoice over rail budget - Jul 03, 2009
- Emami scouting domestic and overseas acquisitions - Aug 19, 2010
- Railway stocks slump during noon trade - Mar 14, 2012
- Changing with times, Hyderabad Industries goes green - Oct 23, 2011
- Rs.6,000 crore penalty on 11 cement firms for price fixing (Lead) - Jun 21, 2012
- E.I.D.Parry launches health products - May 09, 2011
- Upcoming rail budget fuels hope, complaints in Bengal - Feb 07, 2010
- Huge Indian investments create jobs in US: Survey - Apr 26, 2012
- Massive Indian investments create jobs in US - Apr 26, 2012