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Bharat Forge acquires German co.

By Our Staff Correspondent

MUMBAI NOV. 22. Bharat Forge (BFL), the country's largest exporter of auto components, has announced the acquisition of Carl Dan Peddinghaus GmbH (CDP), a leading forging company in Germany. The memorandum of understanding (MoU) between BFL and CDP will result in BFL emerging as the second largest forging company in the world.

In an asset purchase deal, BFL will acquire 100 per cent of the fixed assets, inventory and business of CDP through a suitable special purpose vehicle (SPV) with effect from January 1, 2004. The deal will be funded through internal accruals.

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