Business
Bharat Forge, China Faw Group announce JV -------------------------------------------------------------------------- NDTV Correspondent
Thursday, December 8, 2005 (New Delhi):
Bharat Forge has announced a joint venture with China Faw Group.
Bharat Forge will hold 52 per cent stake in the JV called Faw Bharat Forge Changchun. The JV will provide parts for cars and trucks for the Chinese market.
Located in northern China, the factory will have an annual forging capacity of 100,000 metric tons and about 1,700 employees.
The Chinese JV is the latest chapter in a series of overseas acquisitions for Bharat Forge. The footprint now extends from the US and Europe to China. It is all part of Chairman Baba Kalyani's strategy to boost sales to a billion dollars by 2008.