Bharat Forge’s German subsidiary Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multi-year contract worth euro 250 million (Rs 2,086 crore) from a German OEM.
08 May 2014 | 3576 Views | By Autocar Pro News Desk
Bharat Forge’s German subsidiary Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multi-year contract worth euro 250 million (Rs 2,086 crore) from a German OEM.
The order is for the supply of suspension components based on unique technology industrialised by BFAT over the past few years ...
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Bharat Forge’s German subsidiary Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has won a multi-year contract worth euro 250 million (Rs 2,086 crore) from a German OEM.
The order is for the supply of suspension components based on unique technology industrialised by BFAT over the past few years and puts the company at the forefront of the aluminium component industry which is witnessing huge demand globally, thanks to growing global OEM demand for vehicle lightweighting.
To create capacity for this additional business, BFAT is increasing its capacity by adding a new press line with all auxiliary equipment including melting which will be commissioned in January 2015. This plant is being set up in the state of Saxony at Brand-Erbisdorf at a cost of euro 31 million (Rs 258 crore) funded by way of internal accruals, debt and state subsidies.
Commenting on the order, Baba N Kalyani, chairman and MD of Bharat Forge, said: “This is a proud moment for our German aluminium forging business and for the Bharat Forge Group. This win has been made possible because of BFAT’s continuous focus on innovation, technology adaptation and execution track record and will enhance our presence in the fast growing aluminum components business which is finding increasing use in passenger vehicles for weight reduction and high performance.”
Photograph: Baba Kalyani, CMD, Bharat Forge.