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Bharat Wagon and Engineering

Bharat Wagon and Engineering Limited (Hindi: भारत गाड़ी और अभियांत्रिकी लिमिटेड) (BWEL) is a Public Sector Undertaking (PSU) of the Government of India and is a subsidiary of Bharat Bhari Udyog Nigam. Established on 4 December 1978 after taking over two sick companies - Arthur Butler & Co and Britannia Engineering Company,[1] BWEL is the largest rail wagon manufacturer in India. The administrative control of M/s Bharat Wagon & Engg Co Ltd (BWEL), Patna is transferred from the Department of Heavy Industry, Ministry of Heavy Industries and Public Enterprises to the Ministry of Railways w.e.f 13 August 2008.

The company maintains two manufacturing plants in Bihar and is headquartered in Patna. One such plant is the Bharat Wagon Workshop Plant in Muzaffarpur and the second unit is in Mokama.

In fiscal 2006, the company incurred aggregated revenues of ₹154.4 million (US$2.4 million).[2][3]

Liquidation

In December 2000, the Company was referred to Board for Industrial and Financial Reconstruction (BIFR) and thereafter declared as a sick unit in year 2002. The Government of India planned to sell Muzaffarpur plant of the Company in 2002 but could not do so after resistance from employees & trade unions.[4]

In August 2017, on recommendation of NITI Aayog, the Cabinet Committee on Economic Affairs announced the closure of loss-making BWEL.[1][5][6][7]

References

  1. ^ a b Delhi (2017-08-23). "Cabinet approves Closure of loss making Bharat Wagon and Engineering Company". Business Standard India. Retrieved 2017-08-24. 
  2. ^ Company Profile Archived 6 February 2008 at the Wayback Machine.
  3. ^ Financial Statements Archived 16 July 2011 at the Wayback Machine.
  4. ^ "Bharat Wagon staff chase away buyers - Times of India". The Times of India. Retrieved 2017-08-24. 
  5. ^ Bureau, Our (2017-08-23). "Closure of loss-making Bharat Wagon approved". The Hindu Business Line. Retrieved 2017-08-24. 
  6. ^ "Cabinet approves Closure of loss making Bharat Wagon and Engineering Company". pib.nic.in. Retrieved 2017-08-24. 
  7. ^ Bharat Wagon & Engineering & Co to close Railway Gazette International 25 August 2017

External links