Bharat Forge's German arm bags Euro 250-m contract

Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT), a subsidiary of Pune-based forgings major Bharat Forge has bagged a multiyear contract valued at around Euro 250 million from a German OEM.

The contract is for the supply of suspension components based on a special technology industrialised by BFAT over the past few years that has put it at the forefront of aluminium component industry.

To create capacity for this additional business, BFAT is adding a new press line with all auxiliary equipment including melting which will be commissioned in Jan 2015. This plant is being set up in Saxony at Brand-Erbisdorf at an investment of Euro 31 million funded through internal accruals, debt and state subsidies.

Baba N Kalyani, CMD Bharat Forge Ltd., said, 'This is a proud moment for our German aluminium forging business and the order will enhance our presence in the fast growing aluminium components business which is finding increasing use in passenger vehicles for weight reduction and high performance.'


HBL