FS Group has completed the acquisition of a business unit comprising the operating assets of Titagarh Firema, the Italian rolling stock manufacturer previously owned by Indian Titagarh Rail Systems. This is the finalization of negotiations that started in summer 2025.
The acquisition forms part of FS Group’s 2025–2029 Strategic Plan and is intended to consolidate the production value chain supporting the Group’s investment programme. The assets will be integrated into FS Fabbrica Italiana Treni, the Group’s rolling stock subsidiary.
FS said the transaction strengthens its industrial capabilities in rolling stock and improves coordination between design and manufacturing. The integration is intended to provide greater control over project management, production timelines and critical supplies.
The deal also ensures industrial continuity for the acquired assets following a recovery process initiated in 2025 under a negotiated crisis resolution procedure. The transfer allows the retention of technical and manufacturing activities within the FS Group structure.
During 2025, FS completed other vertical integration initiatives in the tourism and freight transport sectors as part of its broader value-chain strategy.
