24 Feb 2022 | 3586 Views | By Autocar Pro News Desk
Bharat Forge has entered into a definitive agreement to acquire JS Autocast Foundry India. Established in 2004, JS Auto is a supplier of critical machined ductile iron castings for the wind, hydraulic, off-highway and automotive applications.
Over the past five years, the sales of JS Auto have grown at a ...
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Bharat Forge has entered into a definitive agreement to acquire JS Autocast Foundry India. Established in 2004, JS Auto is a supplier of critical machined ductile iron castings for the wind, hydraulic, off-highway and automotive applications.
Over the past five years, the sales of JS Auto have grown at a CAGR of 17.7 percent and the company registered sales of Rs 259 crore in FY21, it said in a statement. Bharat Forge will acquire JS Auto for an upfront consideration (based on enterprise valuation adjustments) plus fixed deferred payment at the end of third year.
Amit Kalyani, Deputy Managing Director, Bharat Forge said, “ We will look to leverage their capabilities, highly talented technical team and strong customer connect to aggressively grow our presence in the industrial casting space. JS Auto will accelerate our diversification journey and enable us to address the decarbonization opportunity. This acquisition along with the previous deal in the open die segment significantly broadens our presence, capabilities and product offerings in the industrial space”.