Bharat Forge Limited announced that its German Subsidiary Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multiyear contract approximately worth Euro 250 million (Rs 2058.6 crore approx.) from a German OEM for supply of suspension components based on unique technology industrialised by BFAT over the past few years.
The industrialisation of this unique technology has put BFAT at the forefront of aluminium component industry witnessing huge demand globally. To create capacity for this additional business, BFAT is increasing its capacity by adding a new press line with all auxiliary equipment including melting which will be commissioned in Jan 2015, said a company statement.
This plant is being set up in the state of Saxony at Brand-Erbisdorf at cost of Euro 31 million funded by way of internal accruals, debt & state subsidies. Commenting on the order win, Baba N Kalyani, Chairman and Managing Director of Bharat Forge Ltd., said “This is a proud moment for our German aluminum forging business and for the Bharat Forge Group. This win has been made possible because of continuous focus on innovation, technology adaptation and execution track record of BFAT and will enhance our presence in the fast growing aluminum components business which is finding increasing use in passenger vehicles for weight reduction and high performance”.
Bharat Forge Limited (BFL) is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Oil & Gas, Aerospace and Rail & Marine. BFL today has the largest repository of metallurgical knowledge in the region and offers complete end to end capability from concept to testing and validation to marquee global OEM’s, the company statement added.
Source: Bharat Forge
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