Bharat Forge (BFL) has made yet another acquisition this year, with its recent announcement of the acquisition of Imatra Kilsta AB, Sweden, along with its wholly-owned Subsidiary, Scottish Stampings, Scotland. The Imatra Forging Group is one of the world’s leading forging groups, the largest manufacturer of front axle beams, and Europe’s second largest crankshaft producer.
Last July, BFL took a major step towards expanding its footprint in North America with the acquisition of Michigan, US-based Federal Forge Inc., through the company’s wholly-owned subsidiary, Bharat Forge America. In an all cash deal, BFL acquired the company at a value of US$9.1 million. With manufacturing facilities at two locations, Karlskoga Sweden, and Ayr Scotland, the Imatra Forging Group has a long tradition in forgings and an impeccable reputation for quality and technology. BFL has acquired 100 percent ownership interest in Imatra Kilsta AB, Sweden and Scottish Stampings, Scotland through a 100 percent owned special purpose vehicle with immediate effect.
Chairman and Managing director, Bharat Forge, B N Kalyani 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 a minimum of two locations worldwide and provide design, engineering and technology front-end support, close to customers for these products. It’s been our core strategy to enhance our competitive advantage by giving complete service and better value to our global customers and enhance our share of business with them. The acquisition deepens our relationship with some of the largest commercial vehicle manufacturers and strengthens our position in the European commercial vehicle, diesel engine and passenger car industry through relationships with prestigious new customers. Imatra Forging Group’s technology and product development capability gives us a full service supply capability across our core engine and chassis components for both passenger cars and commercial vehicles.’
Imatra Kilsta AB and Scottish Stampings are profitable companies, with a total forging capacity of 100,000 tonnes per annum across both plants. Among Imatra Forging Group’s major clients are Volvo, Scania, Saab, DAF, Perkins, MAN, and Iveco etc.
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