Bharat Forge (BFL) has signed a joint venture (JV) agreement with China-based FAW Corporation.According to a release issued by Bharat Forge to the BSE today, the agreement was signed in Mumbai by Dong Chunbo, chairman of FAW Forging and board director of FAW Group, and B N Kalyani, chairman and managing director of BFL. Zhu Yanfeng, CEO of FAW group, was also present on the occasion, the release added.Bharat Forge will hold majority stake in the JV company, which will be engaged in the manufacture of highly engineered forged auto components."This joint venture is a step in the direction of reiterating our strong commitment to providing world-class forging technology to the fastest growing automotive market of the world - China. We will be able to fully support our customers across the world who have manufacturing plants in China. I believe the joint venture between two very accomplished partners - BFL & FAW Corporation - would open up opportunities for growth by offering win-win solutions to customers and take this relationship to a new height," Kalyani said.The JV will have its manufacturing facility at Changchun in northern China. The total annual forging capacity is in excess of 1,00,000 MT with a staff of about 1,700 employees, the release said.The company also announced the appointment of Thomas Dueckers as president (international). Dueckers will be responsible for all overseas operations, namely that of three units in Germany, one in Sweden, one in UK. and one in the US.
