Bharat Forge acquires Swedish company
By agencies   |   Thursday, 22 September 2005, 19:30 IST
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PUNE: India’s largest auto parts exporter and world’s second largest forging company, Bharat Forge has acquired Swedish company Imatra Kilsta AB of Sweden and its wholly owned subsidiary Scottish Stampings Ltd for an undisclosed amount. This is the fourth acquisition of the Pune based company, which had earlier bought three companies in just 21 months. Though the company did not disclose the amount, market sources said Bharat Forge has paid Euro 47 million to acquire the company. With this acquisition, Bharat Forge will have manufacturing facilities across eight locations - two in India, three in Germany, one in Sweden, one in Scotland and one in North America. BFL’s executive director Amit Kalyani said, “We will increase the level of business with their customers and continue manufacturing all the products from both the locations.”