Bharat Forge to buy Walker Forge Tennessee for $14 mn – Feedback

Auto components major, Bharat Forge will buy US-based Walker Forge Tennessee LLC (WFT) for USD 14 million (around Rs 95 crore), a move aimed at expanding its product range in automotive and other industrial segments.

The company’s finance and risk management committee has approved the proposed acquisition of 100 per cent shareholding of WFT through its US subsidiary, Bharat Forge America, the company said in a statement. “The acquisition of Walker Forge Tennessee creates a strategic manufacturing footprint in North America to leverage our existing customer relationships while simultaneously enabling the company to address new end-market segments and broaden the product portfolio,” Bharat Forge Chairman and Managing Director Baba N Kalyani said.

http://economictimes.indiatimes.com/industry/auto/news/auto-components/bharat-forge-to-buy-walker-forge-tennessee-for-14-mn/articleshow/55497598.cms

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