 "Bharat Forge acquires French engineering firm MGL")
CDP Bharat Forge GmbH, the German subsidiary of Bharat Forge Limited (BFL), has acquired 100% equity shares of Mecanique Generale Langroise(MGL), the Saint Goesmes (France) based company focussing on precision machining and other high value added processes like cladding forcriticalapplication inthe oil & gas industry.MGL supplies turnkey components for drilling application like blow out preventers (BoP), surface & sub-sea well heads in addition to components for power sector.
MGL primarily caters to premium global oil & gascustomers, all of whom are already customers of BFL. The transaction value is Euro 11.8 million.
This acquisition is largely focused on further consolidating Bharat Forge position in the oil &gas space byenhancingservice offerings and geographical reach. “This also brings BFL closer to its customers and increases the value addition provided to them. This is first among many opportunities we are looking at addressing in North America, North Sea area & Middle East,” said Bharat Forge in a press release.
Baba Kalyani, chairman and managing director of Bharat Forge Ltd, said “The acquisition of MGL isin line with ourstrategy of moving up the value chain inthe industrial business. This acquisitionenhances BFL’sability to provide turnkey solution and simultaneously strengthens the product offering in the oil & gas sector.”
MGL primarily caters to premium global oil & gascustomers, all of whom are already customers of BFL. The transaction value is Euro 11.8 million.
This acquisition is largely focused on further consolidating Bharat Forge position in the oil &gas space byenhancingservice offerings and geographical reach. “This also brings BFL closer to its customers and increases the value addition provided to them. This is first among many opportunities we are looking at addressing in North America, North Sea area & Middle East,” said Bharat Forge in a press release.
Baba Kalyani, chairman and managing director of Bharat Forge Ltd, said “The acquisition of MGL isin line with ourstrategy of moving up the value chain inthe industrial business. This acquisitionenhances BFL’sability to provide turnkey solution and simultaneously strengthens the product offering in the oil & gas sector.”