Machine tool maker BFW buys Proteck Machinery's turning business

Bharat Fritz Werner (BFW), one of the leading machine tool manufacturers in India, has acquired of the CNC turning business of Chennai-based engineering firm Proteck Machinery for an undisclosed amount.
 
BFW, one of the flagship companies of the Kolkata-based Kothari Group, has its presence in the milling machines business, which is 50 per cent of the machine cutting sector. In machine cutting almost 50 per cent of the market is milling machines, which is to cut the machine flat, the rest of the 50 per cent is of turning machines, which cuts the machines in a curve or more in a round shape.
 
"We have been present in the milling, but had only one technology of vertical cutting in turning machines. With the acquisition of the turning business from Proteck, we can address more product range and would help us in bigger application,” said Ravi Raghavan, CEO, BFW. He added that almost 40 per cent of the machine tool industry is catered through imports at present and the company would look at import substitution for future growth.
 
The acquisition of Proteck’s turning business is part of BFW’s plan, announced in January this year, to double the company's turnover to Rs 1,600 crore in next three years.