<article>Bharat Forge, a <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Kalyani+Group" target="_blank">Kalyani Group</a> company, has received its board approval to buy US-based Walker Forge Tennessee LLC (WFT) through its subsidiary <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Bharat+Forge+America" target="_blank">Bharat Forge America</a>, for $14 million, according to a statement.</article>

Bharat Forge, a <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Kalyani+Group" target="_blank">Kalyani Group</a> company, has received its board approval to buy US-based Walker Forge Tennessee LLC (WFT) through its subsidiary <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Bharat+Forge+America" target="_blank">Bharat Forge America</a>, for $14 million, according to a statement.
The company will pay the amount through internal accruals and debt, it said in a BSE disclosure. The deal is subject to various approvals.
“The acquisition of Walker Forge Tennessee creates a strategic manufacturing footprint in North America to leverage our existing customer relationships while simultaneously enabling the company to address new end market segments and broaden the product portfolio,&#8221; said Baba N Kalyani, chairman and MD of Bharat Forge Ltd.
WFT supplies complex, steel and high alloy steel, engine &amp; chassis components to a diverse group of customers across automotive &amp; industrial sectors. The company is expected to record revenues of $28 million in CY 2016.
Bharat Forge rarely made the acquisition in the US region. So far, the auto component maker has been making the acquisitions in Europe region. Last year, the company had acquired France-based Mecanique Generale Langroise for 11.8 million euros.
Till date, it has bought four companies in Europe and one in North America. It has also sold a couple of companies from its portfolio.
Most recently, BF infrastructure Ventures Ltd, a subsidiary of auto component maker Bharat Forge Ltd, has divested its 50 per cent stake in a joint venture with David Brown Systems India Ltd for $475.3k.
For the quarter ended Sept 30, 2016, the company had a revenue of Rs 96.68 crore. It reported a 4 per cent jump in net profit at Rs 12.69 crore as compared with last quarter&#8217;s Rs 12.2 crore profit.
Bharat Forge scrip last exchanged hands at Rs 907.40 each, up 0.91 per cent on BSE in a weak Mumbai market on Friday.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/bharat-forge-divests-50-stake-in-jv-with-david-brown-systems-14245/" target="_blank">India: Bharat Forge divests 50% stake in JV with David Brown Systems</a>

Bharat Forge to buy US-based Walker Forge Tennessee LLC (WFT) through its subsidiary Bharat Forge America, for $14 million.

India: Bharat Forge to buy US-based Walker Forge for $14m

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India: Bharat Forge to buy US-based Walker Forge for $14m

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