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BF Infrastructure Ventures Ltd, a subsidiary of forgings major Bharat Forge, has divested its 50 per cent stake in joint venture company David Brown Bharat Forge Gear Systems India Ltd to its JV partner, David Brown Systems India (Holdings) Ltd, for a sum of Rs 3.09 crore.
David Brown System India is a part of the David Brown Group that makes gear-boxes and transmission products.
Formed on May 11, the JV was part of BFL’s diversification into non-auto business segments. It was to have served the conventional power, wind, rail, cement, metals, rubber, mining, hydro, and defence industries, addressing both demand for new-build gearboxes and the after market.
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