Bharat Forge has become the first Indian auto components company to touch the billion dollar mark. Now it wants to grow even bigger.
Bharat Forge is mulling an acquisition in South America to tap crucial automotive markets like Brazil. The company will announce acquisition of non-automotive forging business in North America and Europe during this year.
Bharat Forge plans to expand its non-automotive business from current 17% of total revenue to 40% in four to five years. Its Baramati facility will start operations in April 2008 and it will have the world's largest forging hammer.
Bharat Forge stated that the capacity utilisation in Chinese JV is below 40%. They are incurring a loss of around Rs 16 crore currently. They expect the Chinese JV to turn profitable next year.
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