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Trinity Joins Texmaco-Touax Rail Leasing Venture

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Texmaco Rail & Engineering (NSE:TEXRAIL, BOM:533326) said TrinityRail Global, a subsidiary of Trinity Industries, has acquired a 32% stake in Touax Texmaco Railcar Leasing, according to a Wednesday filing with the Indian bourses.

Shares of Texmaco Rail jumped nearly 4% in Thursday's trade.

Touax Texmaco Railcar Leasing is the railcar leasing joint venture between Texmaco and France-based Touax Group.

The three-way partnership is focused on railcar leasing and asset solutions for the Indian freight rail market, it added.

The partners aim to expand Touax Texmaco Railcar's leasing platform and introduce new railcar technologies and designs in India, the filing said.

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