• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Pune, Sept. 21

BHARAT Forge Ltd (BFL) on Wednesday announced the acquisition of Imatra Kilsta AB, Sweden along with its wholly-owned subsidiary, Scottish Stampings, Scotland.

Imatra Forging Group is one of the world's leading forging groups, largest manufacturer of front axle beams and the second largest crankshaft producer in Europe. With manufacturing facilities at two locations, Karlskoga Sweden, & Ayr Scotland, Imatra Forging Group has a long tradition in forgings and a reputation for quality and technology.

Mr B.N. Kalyani, Chairman and Managing Director, BFL, commenting on the acquisition said that it is an all-cash deal and that BFL has acquired 100 per cent ownership interest in Imatra Kilsta AB, Sweden and Scottish Stampings, Scotland through a 100 per cent-owned SPV with immediate effect.

He said, "The Imatra Forging Group acquisition completes our global dual shore capability. We can now produce all of our core products — crankshafts, beams, knuckles and pistons — in minimum two locations worldwide and provide design & engineering and technology front-end support, close to customers for these products. Our core strategy has been to enhance competitive advantage by giving complete service & better value to our global customers and enhance our share of business with them".

Mr Kalyani said that the acquisition deepened the relationship with some of the largest commercial vehicle manufacturers and strengthened BFL's position in the European commercial vehicle, diesel engine and passenger car industry through relationships with new customers.

Imatra Forging Group's technology and product development capability gives "us a full service supply capability across our core engine & chassis components" for both passenger cars and commercial vehicles, he added.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
L&T bags Rs 430-cr orders for export of process plant equipment

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line