Bharat Forge Set to Buy Stake in Shanthi Gears
June 26, 2012
India's Bharat Forge, a Pune-based global leader in forging production, is reportedly planning to acquire a 44% stake in Shanthi Gears Ltd. Coimbatore-based Shanthi Gears is India's second-largest industrial gear maker. The acquisition, if successfully completed, will help Bharat Forge increase its presence in industrial gear markets serving power, defense, wind, rail, metals and other industries. This move follows last year's establishment of a gear-making joint venture between Bharat Forge and the David Brown Group, David Brown Bharat Forge Gear Systems India Ltd.