Wabtec to continue India investment thrust

Wabtec Corporation, United States-based rolling stock manufacturer and one of the biggest foreign direct investors in the railways, will look to continue investing in India close to 4 per cent of its global revenues and make the country a manufacturing hub for exports, global president (transit business) Pascal Schweitzer told Business Standard in an interview.

-  DHRUVAKSH SAHA

Schweitzer, who was in India to inaugurate Wabtec's manufacturing facility in Rohtak, Haryana, said it would continue to work on its export hub plan for India, and the firm's exports will increase tenfold in the next three years to $30 million.

"Barring years where we've had fluctuations, we have been investing 4 per cent of our global revenues for capital expenditure in India. We are always managing scenarios, so we keep re-adjusting based on that, but barring any major changes, it is a reasonable assumption that we will continue with this trajectory," Schweitzer said.

In 2023, Wabtec's sales were $9.68 billion and cash from operations was $1.20 billion.

The company is open to new opportunities to expand its footprint through mergers and acquisitions, the president said.