Balu Forge Industries acquires 72,000-tonne forging lines in Karnataka
Balu Forge Industries Ltd (BFIL) has acquired three forging lines having a combined capacity of producing 72,000 tonnes of heavy forged products annually for an undisclosed amount. The units are located in Karnataka, Balu Forge Industries said in a statement on Wednesday.
BFIL announces the acquisition of three forging lines in a combination of hammers and presses capable of producing 72,000 tonnes per annum of heavy forged products, it said.
BFIL Executive Director Trimaan Chandock said, «The acquisition also provides level playing footing with all global majors in critical engineering product space & equally compete with them at global level in terms of precision, product and pricing. These newly acquired production lines complements the existing precision machining capacity of 32,000 tonne.»
The company did not disclose financial details of the deal.
Mumbai-based BFIL manufactures forged metal components that find applications in sectors like marine and industrial, agricultural and automotive.
(You can now subscribe to our Economic Times WhatsApp channel)
Read more on economictimes.indiatimes.com
