Bharat Forge subsidiary enters into BTA with Indo Shell Mould
The acquisition will be EPS accretive from the first year itself.
JS Auto Cast Foundry India, a step-down subsidiary of Pune based leading forging company Bharat Forge, on Monday announced that it has entered into Business Transfer Agreement (BTA) with Indo Shell Mould (ISML) for acquiring their SEZ Unit in SIPCOT, Erode.
"The SEZ Unit with a capacity of 42,000 MTPA, supplies fully machined critical castings to marquee customers in the automotive industry and will operate as the third manufacturing unit of JS Auto. This takes the capacity at JS Auto to 1,42,000 MTPA," the company said in a regulatory filing.
According to the company, this acquisition strengthens JS Auto’s presence in the castings sector, expands the product offering & client base and enhances its footprint in the Indian manufacturing landscape. The acquisition will be EPS accretive from the first year itself.
The closing of the transaction is subject to customary conditions and regulatory approvals.
RELATED ARTICLES
“India Would Be the Last Country Standing When It Comes to ICE”: Stellantis India MD Shailesh Hazela
India's strategic position in global automotive manufacturing may see it become the final producer of internal combustio...
Minda Corporation Approves Issuance of Warrants Worth ₹420.75 Crores to Promoter
The preferential issue, expected to get shareholder approval, will increase Minda Capital Private Limited's shareholding...
ReiseMoto Expands Presence with Pune Store, Strengthening Retail Footprint Across Five Cities
ReiseMoto expands its retail footprint with the opening of a new store in Pune, adding to its presence in Mumbai, Gurugr...