India’s Bharat Forge is reportedly acquiring an 89% stake in Groupe Sifcor, a forge in Neuilly, France. The French company, a producer of automotive components, will provide its expertise in the manufacture of engines and transmissions. The potential acquisition will give Bharat Forge a lead into the French automotive sector and access to auto producers Citroen and Renault. The merger would enable Sifcor to develop in emerging markets as well.
Bharat Forge has formed a joint venture with India’s National Thermal Power Corporation (NTPC) under the name BF-NTPC Energy Systems. The JV will initially be engaged in manufacturing castings, forgings, fittings and high-pressure piping required for power projects and other industries.
Bharat to Acquire Stake in French Forge
July 1, 2008