David Brown, Bharat Forge Set Up JV
David Brown Systems India, part of the David Brown Group, signed a shareholders agreement to set up a joint-venture company with Bharat Forge through its wholly owned subsidiary, BFIVL. The joint venture, David Brown Bharat Forge Gear Systems India Ltd., will serve the Indian heavy engineering industry, supplying both new-build gearboxes and comprehensive aftermarket services to high-growth, high-demand sectors including power, mining, defense, wind, rail and steel. The JV will initially operate from current Bharat Forge facilities. By the middle of 2012, however, it is intended to have a dedicated site for gearbox assembly and testing. The JV also intends to set up two new service centers in Bangalore and Kolkata by the end of 2011.