Balu Forge Industries Ltd (BFIL) has recently acquired the Precision Machining unit of the Mercedes Benz Truck Factory from Mannheim, Germany.
BFIL is a precision engineering house with a presence is over 80 Countries & a very diversified component portfolio serving over 25 Original Equipment manufacturers in over 5 continents. The range extends from ICE applications to Hybrid & Electric Vehicles with a constant need to innovate & further strengthen the capability in the New Era of Mobility.
The recent acquisition will be installed in the new machining facilities of BFIL in Belgaum, Karnataka & will cement the company's position as a leading precision player throughout the globe. This expansion will enable BFIL to produce crankshafts & other precision machined components for Original Equipment Manufacturers in the Class 7 & Class 8 Trucks & Heavy Duty Vehicle category.
Commenting on the said acquisition, Mr. Trimaan Chandock, Executive Director, BFIL said, "The said opportunity will catapult our capability & enable us to expand our horizon to a whole new category of Original Equipment Manufacturers in the heavy duty segment globally. We are truly pleased with this acquisition as we now fall under a handful of global producers possessing this capability."
The highlight of the said acquisition is the presence of more than 10 CBN wheel grinders most of which are from the world renowned machinery producer, 'Junker.' These machines are some of the highest quality & foremost in this machining category. This puts BFIL in a very special category in respect to its peers as we are now part of a handful of companies to possess this capability globally.
Shares of Balu Forge Industries Ltd was last trading in BSE at Rs. 124.60 as compared to the previous close of Rs. 123.10. The total number of shares traded during the day was 58920 in over 207 trades.
The stock hit an intraday high of Rs. 126.60 and intraday low of 119.15. The net turnover during the day was Rs. 7315222.00.