Pune-based Bharat Forge Limited has acquired the US forging company, Federal
Forge Inc, for $9.1 million.
the acquisition, chairman and managing director B N Kalyani, said, "The
Federal Forge acquisition is a significant step towards implementing Bharat
Forge''s strategy of expanding our global footprint and establishing a manufacturing
presence in one of our largest markets the United States of America."
to him, the strategy is to expand the company''s ''dual shore'', manufacturing
base through strategically located complementary facilities, around the world.
The first step was to establish ourselves in Europe, while the next step was
to pursue North America and China.
Federal Forge acquisition will enhance Bharat Forge''s presence in the US,
giving it a strong foothold in the passenger car and light truck market. Established
in 1962, Federal Forge is located in Lansing, Michigan, in the US. The company
manufacturers a variety of forged automotive components such as control arms,
knuckles, connecting rods, etc. The company''s annual turnover is about $60
million with a staff complement of 150 employees.