Bharat Forge Ltd. on Monday introduced that J S Auto Solid Foundry India Non-public Ltd., its step-down subsidiary, has entered right into a enterprise switch settlement with Indo Shell Mould Ltd. (ISML) for buying their SEZ Unit at SIPCOT, Erode in Tamil Nadu, for an unspecified quantity.
“The SEZ Unit with a capability of 42,000 MTPA, provides fully-machined important castings to marquee prospects within the automotive trade and can function because the third manufacturing unit of JS Auto. This takes the capability at JS Auto to 1,42,000 MTPA,” Bharat Forge mentioned.
“This acquisition strengthens JS Auto’s presence within the castings sector, expands the product providing and consumer base and enhances its footprint within the Indian manufacturing panorama. The acquisition will probably be EPS accretive from the primary 12 months itself,” it added.
The closing of the transaction is topic to customary circumstances and regulatory approvals, the corporate mentioned.
