FLASH NEWS
EconoMix

Bharat Forge acquires US-based WFT and PMT Holding

Friday, Dec 2, 2016,13:11 IST By metrovaartha A A A

New Delhi | Auto components major Bharat Forge on Friday said it has completed acquisition of US-based Walker Forge Tennessee LLC (WFT) and PMT Holdings Inc, USA for USD 14 million (around Rs 95 crore).

“Bharat Forge Ltd has completed acquisition of US-based Walker Forge Tennessee LLC and PMT Holdings Inc, USA through its wholly-owned subsidiary Bharat Forge America for USD 14 million,” the company said in a BSE filing.

It further said, “With the completion of this transaction Walker Forge Tennessee LLC and PMT Holdings Inc, USA have become indirect subsidiaries of the company.” Last month, the company had announced the acquisition and said it aimed at expanding its product range in automotive and other industrial segments.

WFT is a supplier of complex, steel and high-alloy steel, engine and chassis components to a diverse group of customers across automotive and industrial sectors.

The US firm is expected to record revenues of USD 28 million this year with a balanced revenue mix across the automotive and industrial sectors.

Latest News