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Bharat Forge acquires US-based WFT and PMT Holding for Rs 95 crore

With the completion of this transaction Walker Forge Tennessee and PMT Holdings, USA have become indirect subsidiaries of the company

Press Trust of India  |  New Delhi 

Bharat Forge acquires US-based Walker Forge Tennessee for $14 mn
Bharat Forge

Auto components major today said it has completed acquisition of US-based LLC (WFT) and PMT Holdings Inc, USA for USD 14 million (around Rs 95 crore).

"Ltd has... Completed acquisition of US-based LLC and PMT Holdings Inc, USA through its wholly-owned subsidiary America for USD 14 million," the company said in a BSE filing.


It further said, "With the completion of this transaction LLC and PMT Holdings Inc, USA have become indirect subsidiaries of the company."

Last month, the company had announced the acquisition and said it aimed at expanding its product range in automotive and other industrial segments.

WFT is a supplier of complex, steel and high-alloy steel, engine and chassis components to a diverse group of customers across automotive and industrial sectors.

The US firm is expected to record revenues of USD 28 million this year with a balanced revenue mix across the automotive and industrial sectors.

First Published: Fri, December 02 2016. 11:48 IST
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