CHICAGO (AP) — Railcar manufacturer FreightCar America Inc. on Tuesday said it entered into a joint venture with an Indian railcar maker to develop freight cars for the Indian market.
Under terms of the deal, FreightCar and Titagarh Wagons Ltd., based in Kolkata, India, will develop prototype cars and assess the market in India. If that is deemed a success, the joint venture will begin railcar production in India beginning in 2009, FreightCar said.
FreightCar shares fell 10 cents to $28.92 during aftermarket electronic trading, after the stock closed up 16 cents at $29.02.
