Kolkata: Wabtec and Texmaco had the grand opening today of their joint venture facility in Kolkata. The new Kolkata facility will serve as the manufacturing home to Wabtec's leading global product lines in freight and locomotive brake shoes, truck mounted brakes and cushioning systems. It will fully implement Wabtec Excellence Program, a comprehensive system designed to maximize efficiency and productivity by ensuring quality standards, on-time delivery and cost competitiveness. Speaking on the occasion, Mr. Ray Betler, President & CEO, Wabtec stated, "Next year, Wabtec will celebrate its 150th anniversary.
It was nearly a century and a half ago that George Westinghouse changed the world in pursuit of making rail travel safer. Today the company he founded maintains operations in more than 30 countries around the world. We sell products in more than 100 countries across the globe. Our portfolio of solutions includes everything from sanitation toilets to high-tech Positive Train Control and ETMS systems.
Wabtec and Texmaco Rail opens JV production facility at Kolkata[/caption] This joint venture (JV) and the new facility we celebrate today are built on a foundation of common values that drive our decisions and guide our actions. The relentless focus on our valued customers, striving to be even better tomorrow than we are today, working together toward e common purpose, and leadership that is predicated on the fundamental belief that character matters.
That's what we stand for at Wabtec. And that's precisely what this joint venture represents. And I look forward to our joint venture with Texmaco being an important part of our growth as we begin our next 150 years. " He further said "We are excited and proud to bring Wabtec's leading global technologies to India. And the facility we stand in front of will play an important role in that effort. So while we're here to celebrate today, we're also here to prepare for our future. This facility gives us much needed space to grow. And grow is exactly what we intend to do.
The opportunities both within the Indian market and around the world are significant. I think of the East /West freight corridor that has been proposed and Indian Railway's focus on growing the freight business in India. Our joint venture is now better positioned than ever to seize the opportunities before us. And Wabtec is eager to support this effort and the joint venture's role in it with the global resources our organization has to offer." Mr. Saroj Poddar, Chairman of the Adventz Group said, "it was a matter of immense joy and pride when we formed a JV partnership and a decision was taken to set-up a new factory within our premises to shift their business in India, related to the freight rail industry.
With the inauguration of the new facility today, the partnership has become even stronger and the bonds more enduring. The JV will also be able to leverage the strength of Texmaco team and, with better coordination, I feel confident that the JV business will grow exponentially from the newly inaugurated facility." The grand opening of the Kolkata facility represents a milestone achievement in the enduring partnership between Wabtec and Texmaco. This cooperation will enable the new entity to bring to the Indian Railways the latest generation of Safety & Control equipment and Systems, a critical need for Indian Railways and a high priority area for the Government.