Bharat Forge’s BFAT wins EURO 250 million multiyear contract
Bharat Forge Limited announced that itâ€™s German Subsidiary, Bharat Forge Aluminumtechnik GmbH & Co KG (BFAT) has secured a multiyear contract worth about EURO 250 million from a German OEM. This entails supplying suspension components based on unique technology industrialized by BFAT and has put the company at the forefront of the in demand aluminium component industry.
To be commissioned in Jan 2015, BFAT is adding a new press line with all auxiliary equipment including melting in order to create capacity for this additional business volume. Being set up in the state of Saxony at Brand-Erbisdorf, the plant sees an investment of EURO 31 million funded by way of internal accruals, debt & state subsidies.
Commenting on the order win, Mr. Baba N Kalyani, Chairman and Managing Director of Bharat Forge Ltd., said â€śThis is a proud moment for our German aluminum forging business and for the Bharat Forge Group. This win has been made possible because of continuous focus on innovation, technology adaptation and execution track record of BFAT 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 performanceâ€ť