In a landmark move, Texmaco Rail and Engineering has acquired 51% shareholding in Saira Asia Interiors Pvt. Ltd. This strategic acquisition enhances Texmaco’s capabilities in delivering state-of-the-art interior solutions, solidifying its presence in the global railway industry.
More Details:
Texmaco Rail and Engineering has strategically acquired a 51% shareholding in Saira Asia Interiors Private Limited, a global leader in railway interiors. With 14 years of dedicated focus and commitment to innovation and craftsmanship, Saira Asia has established itself as a premier provider of high-quality interior solutions for the railway industry. This acquisition strengthens Texmaco’s position in the global market, enhancing its capabilities to deliver state-of-the-art interior solutions that meet the evolving needs of the railway sector.
Acquisition Details in Brief:
- Saira Asia excels in crafting cutting-edge metro interiors, elevating public transportation standards with precision engineering and innovative design. Saira Asia is rapidly expanding their presence in metro interior products.
- The acquisition will make the Company a comprehensive mechanical partner in Commuter Mobility Segment (Car body shell and interiors) and will provide competitive edge by offering comprehensive solutions that address the evolving demands of the Railway sector.
- Post acquisition of 51% shareholding, Saira Asia will be a subsidiary of the Company. It is not a related party transaction. The Promoter/ Promoter group has no interest in the entity.
- Cost of acquisition or the price at which the shares are acquired is approximately Rs. 09 Crores.
Conclusion:
The acquisition of Saira Asia adds another significant tool to Texmaco Rail and Engineering’s arsenal and further strengthens its technical prowess in terms of providing world class interior solutions that address the current and future needs of the railway sector in a holistic and sustainable manner.
Source: Texmaco – Press Release | Image Credit (representational): Texmaco and Saira Asia
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