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Bharat Forge completed the sale of its remaining 26% equity in Alstom Bharat Forge Power Pvt Ltd to GE for $35 million, exiting the joint venture.
Bharat Forge announced the acquisition of US-based Walker Forge Tennessee for $14 million. The acquisition gives Bharat Forge a manufacturing presence in North America and expands its product offering into passenger car, commercial vehicle, construction, mining, and industrial sectors.
Bharat Forge Limited has approved the divestment of its 49% stake in Alstom Bharat Forge Power Private Limited (ABFPL) to Alstom for US$35 million. The JV was formed in 2009.
GE India Industrial Private Ltd. agreed to acquire a 49% stake in ALSTOM Bharat Forge Power Limited from Bharat Forge Limited for $35 million.