| Bharat Forge open to more acquisitions |
| Firm targets global leadership in two years |
| Suveen K Sinha & S Kalyana Ramanathan / Pune/New Delhi February 12, 2006 |
| Pune-based Bharat Forge (BFL) has set a target to become the global leader in its business by 2008, for which it is open to more acquisitions to complement organic growth. However, according to BFL chairman and managing director Baba Kalyani, it does not make a business case for Indian auto component companies to acquire the assets of troubled US automotive component giant Delphi. "We want to achieve global leadership by 2008. Part of that will be organic growth and some inorganic," Kalyani told Business Standard. In December last year, Bharat Forge, India's largest auto-components company, gained control of its counterpart in China, a division of First Automobile Works, the country's largest vehicle manufacturer. The deal with FAW Forging boosted BFL's capacity by 1,00,000 tonne, taking the total to about 6,00,000 tonne, second only to Germany's Thyssen Krupp. After the acquisition |
