NE BUSINESS BUREAU
CHENNAI, JAN 2
Auto components maker Bharat Forge Ltd on Monday said its step-down subsidiary JS Auto Cast Foundry India will acquire the SEZ unit of Indo Shell Mould Ltd located at SIPCOT, Erode in Tamil Nadu for an undisclosed sum.
JS Auto Cast Foundry India has entered into a business transfer agreement with Indo Shell Mould Ltd for the purpose, Bharat Forge said in a statement.
“This acquisition strengthens JS Auto’s presence in the castings sector, expands the product offering and client base, and enhances its footprint in the Indian manufacturing landscape,” it added.
The SEZ Unit with a capacity of 42,000 MTPA, supplies fully machined critical castings to marquee customers in the automotive industry and will operate as the third manufacturing unit of JS Auto, taking its total capacity to 1,42,000 MTPA, the company said, adding that the acquisition will be EPS accretive from the first year itself.
