Kolkata based heavy engineering firm Titagarh Wagons Ltd (TWL) is now looking at leveraging the Hyderabad Industries Ltd (HIL) facility that it acquired at Uttarpara near here to roll out a new product line in heavy earth moving and mining equipment (HEMM) segment besides looking at foreign collaborations.
TWL had acquired the heavy engineering division of HIL in 2005, and currently manufactured hydraulic excavators among other mining equipment there apart from electrical multiple units (EMU) coaches. The mining equipment market in India was around Rs5000 crore.
TWL's mechanical crawler cranes enjoyed a 40 per cent market share while it had secured a less than 4 per cent share of the excavators market after it started manufacturing in 2006.
"With the new 15 cubic meter excavator lined up for a launch next fiscal we are aiming to take our market share in the segment to above 10 per cent.", Subrata Paul, director of the HEMM division of TWL, said. "These excavators or shovels are not manufactured in the country now and are imported by Komatsu India and others", he added.
TWL has the design of the equipment from an earlier German technical collaboration with Demag Cranes & Components, and would now go into manufacturing. It also planned to come up with a 30-ton tyre mounted crane next fiscal. "We are eying a significant growth of over 50 per cent this fiscal and expect to continue to grow in the range of 40 to 50 per cent every year for the next three years", Paul claimed.
The HEMM division of TWL had posted a revenue of Rs28 crore in 2007-08. TWL's turnover in last fiscal was Rs637 crore.
This apart, TWL is in talks with international companies for technical collaborations in underground, opencast mining equipment and mineral beneficiation.
"Talks are on and a joint venture should be finalised in the next 12 to 18 months", Paul said.
