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Over-head electrification solutions provider Texmaco Rail and Engineering has bought 55 per cent stake in Bright Power Projects (India) for an undisclosed amount.
Following the acquisition, Bright Power Projects has become a subsidiary of Texmaco, service law firm SAM & Co, which advised the latter in the deal, said in a statement.
“With this acquisition, Texmaco will make a foray into the high growth ‘over-head electrification’ solutions for the railways sector, which will enable it to further strengthen its position towards becoming a one stop integrated total rail solutions provider,” the statement said.
Texmaco specialises in over-head electrification solutions for the Railways and has strong credentials in this specialised field, which is reflected in execution of more than 400 electrification projects pan India.
The current unexecuted order book of Texmaco stands at around Rs 600 crore.
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