Bharat Forge has received approval for acquiring of 100% shareholding of Walker Forge Tennessee LLC (WFT) through its US subsidiary, Bharat Forge America. WFT is expected to record revenues of $28 million in CY 2016 with a balanced revenue mix across the Automotive & Industrial sectors.
The transaction value is $14 million which will be funded through internal accruals & debt. This proposed acquisition is focused on establishing manufacturing footprint in North America and on increasing company’s product offering into the Passenger Car and Commercial Vehicle segments as well into industrial sectors such as Construction & Mining and allied industries. This will also enable to expand company’s presence in North America.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
