Bharat Forge's China JV inaugurated

Bharat Forge Ltd has announced that FAW Bharat Forge (Changchun) Co Ltd., which has been set up as joint venture between itself and China FAW Group Corporation, the largest automotive manufacturing group in China, has been formally inaugurated. The JV has received the necessary regulatory approvals in China.

The formal opening ceremony was held in Changchun, China, which was attended by the mayor and vice mayor of Changchun municipal committee and the municipal government of Changchun besides BN Kalyani, chairman and managing director, Bharat forge, Zhu Yanfeng, CEO of the China FAW Group Corporation and Dong Chunbo, vice president, China FAW Group Corporation.

The Indian government was represented by Pradip Rawat, counselor in the Indian Embassy in China.

The newly established JV will be engaged in manufacturing highly engineered critical and safety components for the automotive industry. The JV will focus on offering its range of products and services to FAW Group Corporation and the other automotive groups operating within China.

The JV will progressively position itself as the competitive cost producer of highly engineered forgings for the International market and also focus on the non - automotive business in the fields such as railways, mining & construction equipment, steel mills, power plant, marine applications and the oil & gas business.

Bharat Forge is the majority partner in the Indo-Chinese venture with a 52 per cent share while 48 per cent is held by China FAW Group Corporation. The investment in the JV is the largest by any Indian company so far in China.

Speaking on the occasion Baba Kalyani, said, "This is a momentous occasion in the history of two great countries, India and China as well as the two companies,  Bharat Forge and China FAW Group Corporation. We are committed to making this JV a success and I would, together with my counterpart in China, work closely on transforming the JV into a global player in its field of operations."