Bharat Forge to acquire US co for Rs 92cr

21 November 2016

City-based Bharat Forge on Friday said it will acquire US-based auto component supplier Walker Forge Tennessee (WFT) for a total transaction value of $14 million (about Rs 92 crore) in an all-cash deal. The transaction will be funded through a combination of internal accruals and debt.

“This acquisition is focused on establishing manufacturing footprint in North America and on increasing our 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 us expand our presence in North America,” the company said in a BSE filing.

Source – TOI