Bharat Forge Subsidiary To Acquire Indo Shell Mould SEZ Unit In TN

Bharat Forge Limited on Monday today announced that J S Auto Cast Foundry India Private Limited, its step-down subsidiary has entered into Business Transfer Agreement with Indo Shell Mould Limited for acquiring their SEZ Unit in SIPCOT, Erode.

The SEZ Unit with a capacity of 42,000 MTPA, supplies fully machined critical castings to marquee customers in the automotive industry and will operate as the third manufacturing unit of JS Auto. This takes the capacity at JS Auto to 1,42,000 MTPA.

This acquisition is expected to strengthen JS Auto’s presence in the castings sector, expands the product offering and client base and enhances its footprint in the Indian manufacturing landscape. 

“The acquisition will be EPS accretive from the first year itself,” said Bharat Forge in a statement.