Schedule a Call Back
Bharat Forge to acquire AAM India Manufacturing for Rs 5.44 billion
Industry News- Oct 22,24
The acquisition is subject to approval from the Competition Commission of India (CCI) and other customary closing conditions.
Bharat Forge Ltd. has entered into a definitive agreement to acquire AAM India Manufacturing Corporation Pvt. Ltd., a subsidiary of American Axle & Manufacturing Holdings. The deal is valued at Rs 5.44 billion, subject to closing adjustments.
AAM India specialises in manufacturing axles for light, medium, and heavy-duty commercial trucks and passenger buses in India. As part of the transaction, Bharat Forge will take over AAM India’s commercial vehicle axle operations in Pune and Chennai, along with its Pune-based Engineering and Development Center.
The acquisition is subject to approval from the Competition Commission of India (CCI) and other customary closing conditions.
Amit Kalyani, Vice Chairman and Joint Managing Director, Bharat Forge, expressed optimism about the acquisition, stating, “We look forward to leveraging their technical expertise and industry relationships to drive business growth in the medium to long term.”
David Dauch, Chairman and CEO, American Axle, said the sale is a strategic move that will allow the company to sharpen its focus on ICE, hybrid, and fully electric vehicle applications for pickup trucks and vans globally, while also enhancing financial flexibility.
(cnbctv18)
Related Stories
Smart Manufacturing
How MSMEs will play a key role in the development of Indian manufacturing sector
Setting up a business in India is futuristic, makes a lot of sense, and, for foreign companies, connecting with the Indian MSME and helping it grow is a sure way to success, says R Jayaraman.
Read moreAuto & Auto Components
Bharat Forge Q2FY25 results
BFL group's defence business posted revenue of Rs 5.09 billion in Q2 registering a jump of 67% YoY.
Read moreAerospace Defence
Bharat Forge secures major ATAGS contract for Indian Army
This landmark order marks a boost for India's indigenous defence capabilities and reflects the country’s emphasis on self-reliance in defence manufacturing.
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
