Bharat Forge buys Sweden’s Imatra for 50 m euro

Posted: 2005-09-22 00:12:04+05:30 IST
Updated: Sep 22, 2005 at 0012 hrs IST

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Pune, Sept 21: Bharat Forge, the world’s second largest forging company and the largest auto components exporter from India has bought Imatra Kilsta AB of Sweden and its wholly-owned subsidiary Scottish Stampings Ltd in an all cash deal estimated at 50 million euro.

This is BFL’s fourth global acquisition in less than two years. The acquisition is through a 100% special purpose vehicle (SPV) and comes into force with immediate effect. 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.”

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.

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Bharat Forge buys Sweden’s Imatra for 50 m euro

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