General Atomics companions Bharat Forge to manufacture excessive-stop drones by admin- Wednesday, January 4th, 2023 05:14:15 PM
Bharat Forge introduced that JS Auto Cast Foundry India Private Ltd, its step-down subsidiary has entered into Business Transfer Agreement with Indo Shell Mould Ltd (“ISML”) for obtaining their SEZ Unit in SIPCOT, Erode.
The SEZ Unit with a ability of forty two,000 MTPA, elements absolutely machined vital castings to marquee customers inside the automobile industry and could operate as
the 3rd production unit of JS Auto. This takes the capacity at JS Auto to one,42,000 MTPA.
This acquisition strengthens JS Auto’s presence inside the castings sector, expands the product supplying & purchaser base and complements its footprint inside the Indian
manufacturing panorama. The acquisition may be EPS accretive from the first year itself.
The remaining of the transaction is subject to standard situations and regulatory approvals.