Bharat Forge Limited announced that J S Auto Cast Foundry India Private Limited (JS Auto), its step-down subsidiary has entered into Business Transfer Agreement with Indo Shell Mould Limited (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 3rd manufacturing unit of JS Auto. This takes the capacity at JS Auto to 1,42,000 MTPA, according to the statement.
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, a statement said.
The acquisition will be EPS accretive from the 1st year itself. The closing of the transaction is subject to customary conditions and regulatory approvals.
Bharat Forge Limited (BFL), the Pune based Indian multinational, is a technology driven global leader in providing high performance, innovative safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defense and aerospace.
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