Luxembourg-based IRS Plans To Expand to Serbia, Macedonia, Bulgaria - Media

"We want to expand as operators to the nearby markets, as Serbia and Macedonia, targeting to obtain transport operator licence. We also are interested in Bulgaria, where we can sell the wagons we produce," Business Standard quoted IRS president Cristian Burci as saying.

He added that the company also plans to enter Russia and Kazakhstan, where the demand for wagons could be very high in the next ten years.

The main part of IRS business is concentrated in Romania, where it owns one of the largest railway transport companies, Servtrans Invest, and three wagon factories, Astra Vagoane, Meva and Romvag.

IRS, founded by the Romanian businessman Cristian Burci, has subsidiaries in the United States, the Czech Republic and Serbia.

The company targets a 435 million euro ($639 million) in turnover this year and a total output of more than 5,000 wagons.

($=0.6812 euro)