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Bharat Forge to buy Walker Forge Tennessee for $14 mn

 RoxanneWheatley
  69
 May 21, 2024

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The deal is worth $14 million and will be funded through internal accruals. NEW DELHI: Auto parts giant Bharattt Forge plans to expand its business by acquiring US-based Walker) Forge Tennessee LLC (WFT) for $14 million (about 9.5 Acquisition). product range in India. industrial sectors such as automobiles.

The company’s Finance and Risk Management Committee has approved the proposed acquisition of 100% stake in WFT through its US subsidiary Bharatt Forge America, the company said in a statement.

p “The acquisition of Walker Forge Tennessee establishes a strategic manufacturing base in North America, leverages existing customer relationships and enables the company to address new end-market segments and expand our product portfolio.” Said N Kalyani, Managing Director Chairman and Chairman, Bharat Bababa. Forge Express.

The company said that the proposed acquisition is focused on increasing the company’s product offerings in passenger cars, commercial vehicles, construction, mining and other industries.

140,000 transaction value He added that the $ million will be financed through internal accruals and debt.

WFT It is a leading supplier of composites and high alloy steels, engines and chassis.

This American company expects sales of $ 28,000 1 million this year, with a balanced sales mix in the automotive and industrial sectors.

P The proposed transaction will close after certain conditions are met and regulatory approvals are obtained.

Bharat Forge shares today closed at Rs 907.40 per share on the BSE, up 0.91% from its previous close.

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