Bharat Forge’s wholly owned subsidiary -- Kalyani Strategic Systems (KSSL) has incorporated wholly owned subsidiary namely ‘Sagar-Manas Technologies’ (SMTL). SMTL has been incorporated pursuant to a Joint Venture Agreement (Agreement) executed between KSSL and Open Joint Stock Company Dastan Transnational Corporation (Dastan) with an aim to participate in joint upgradation and manufacturing/ providing solutions for marine and defence products which will be undertaken through SMTL as a special purpose vehicle.
Dastan, a Kyrgyzstan entity, is a leading multipurpose enterprise engaged in the development, manufacturing, sale of defence equipment, electronic devices, medical centrifuges, etc. Upon completion of conditions as envisaged in the agreement, Dastan will acquire 49% of stake in SMTL. Consequently, KSSL will hold 51 % and Dastan will hold 49% equity in SMTL.
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.
